Report: Indicators pointed to bear mood in the market

In September, some onchain-metrics testified to the predominance of pessimistic moods in the market and continuing the bear phase, followed by FORKLOG.

In September, the Pwell Multiple multiplier was periodically immersed and extended from the resale zone. This indicator behavior indicates the absence of a clear signal about the completion of the bear phase of the market.

MVRV Z-Score indicator remained mainly in the green zone. This indicates the preservation of pessimism in the market. At the same time, the trend indicates a potentially favorable period for purchasing cryptocurrency for the long term.

In September, the ASOPR onchain tool (7 m) never overcame the mark 1. This indicates the predominance of bear mood and the fact США подали до суду that most market participants fixes losses.

Glassnode analysts noted the decrease to the historical minimum of the share of the Bitcoin-Government, concentrated in the hands of relatively active short-term investors. In their opinion, Hodler remain true to their strategies, refusing to get out of positions on any significant scale.

Bitcoin industry in numbers-Bybit, ecosystem for crypto traders.

Recall, according to the head of Cryptobank Galaxy Digital Mike Novograts, Bitcoin will resume growth if the Fed refuses an aggressive increase in betting to combat inflation.

In July, Grayscale Investments experts admitted that the Bear phase of the market will last until March 2023.

Read the FORKLOG Bitcoin News in our Telegram-cryptocurrency news, courses and analytics.