Bitcoin Bear Market Not Turning Bullish Anytime Soon: Report

The current crypto winter has left bearish sentiments on Bitcoin and other crypto assets in the market. As a result, several, if not all, assets’ values are on their way to the bottom, leaving massive losses for retail and institutional crypto investors. Experts have released several speculating analyses regarding the ongoing bear market, including the condition of Bitcoin and possible future expectations. Bitcoin price remains at the $19k level, never exceeding $24k in the past months. Following the ongoing price trend, a prolonged decline is possible. Related Reading: TOP 5 Cryptos To Watch This Week – BNB, BTC, ETH, QNT, LEO Reason One: Lack Of Demand And Activities In Bitcoin Futures Market Market analytics believe the Bitcoin market may not end soon with the current trend. A CryptoQuant analyst said the lack of demand for Bitcoin is one of the signs that the asset prices are not increasing soon. The analyst highlighted the rate of funding in the BTC futures market. He explained that BTC funding rates became negative when Bitcoin price fell from the $22k level and remained at the $19k level. The CryptoQuant analyst further noted that the metric’s values are notably lower in 2022 than in 2019-2020. It indicates a low demand and activity in the futures market, which causes a consolidation period and range phase. The analyst advised close monitoring of the metric’s values, particularly in the short-term, giv...