Bitcoin’s Bull Run Ends: Is a Bear Market Beginning?

The cryptocurrency market is shifting from its bull phase to bearish territory, as institutional demand for Bitcoin dwindles and key technical indicators signal a potential downturn. CryptoQuant, a renowned analytics platform, has noted a dramatic decline in Bitcoin’s bullish momentum due to decreased demand from institutional investors such as Michael Saylor’s Strategy and limited inflows into exchange-traded funds (ETFs). 2023 started with an extended bull run for Bitcoin, but now the market is showing signs of slowing down.