Bitcoin enters ‘early bear phase’ as $84K becomes key BTC support

Bitcoin's profit cycle has turned negative for the first time since 2023, suggesting that BTC is transitioning into a bear market

Bitcoin’s (BTC) drop below $90,000 has pushed onchain profitability metrics into the negative territory, signaling BTC’s entry into a bear market, new research revealed.

Data from TradingView showed that Bitcoin price action had established a new range on lower time frames, and market observers were watching the key support levels below.

Key takeaways:

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