The post Bear Market or Bottom Forming? appeared on BitcoinEthereumNews.com. Bitcoin’s (BTC) current retreat now stands as the deepest correction of this market cycle, based on observations from an on-chain analyst. At the same time, sentiment has tanked. Analysts disagree on whether the market is entering a prolonged downturn or if a bottom will form soon. Sponsored Bitcoin Faces Deepest Correction of the Cycle as Fear Dominates Market Bitcoin has continued to shed its gains in the past months. Yesterday, the coin dropped below $90,000, marking a 7-month low. However, a modest recovery followed. BeInCrypto Markets data showed that it was trading at $91,460 at the time of writing. This represented a 0.109% increase over the past 24 hours. Bitcoin Price Performance. Source: BeInCrypto Markets On-chain analyst Maartunn highlighted the magnitude of the pullback in a recent X (formerly Twitter) post. He pointed out that the depth of the correction is now the largest seen so far in the current cycle. The decline has also shaken market sentiment. The Crypto Fear & Greed Index has remained locked in Extreme Fear for eight consecutive days as of November 19. Sponsored Such a long streak signals that traders remain deeply cautious, with risk appetite at one of its lowest levels of the year. “This is now the longest Extreme Fear streak since the FTX collapse,” Coin Bureau wrote. The Crypto Fear & Greed Index. Source: X/Coin Bureau Sponsored Analysts Divided on Bitcoin: Bear Market or Local Bottom? Alphractal stated that extremely negative sentiment can mean two things. It can signal an upcoming local bottom during a bull market. However, in a bear market, such sentiment typically indicates continued downside. Notably, this is where analysts remain split. Some argue that a bear market has started according to the 4-year cycle. In a detailed thread, Mister Crypto also outlined several arguments for why the… The post Bear Market or Bottom Forming? appeared on BitcoinEthereumNews.com. Bitcoin’s (BTC) current retreat now stands as the deepest correction of this market cycle, based on observations from an on-chain analyst. At the same time, sentiment has tanked. Analysts disagree on whether the market is entering a prolonged downturn or if a bottom will form soon. Sponsored Bitcoin Faces Deepest Correction of the Cycle as Fear Dominates Market Bitcoin has continued to shed its gains in the past months. Yesterday, the coin dropped below $90,000, marking a 7-month low. However, a modest recovery followed. BeInCrypto Markets data showed that it was trading at $91,460 at the time of writing. This represented a 0.109% increase over the past 24 hours. Bitcoin Price Performance. Source: BeInCrypto Markets On-chain analyst Maartunn highlighted the magnitude of the pullback in a recent X (formerly Twitter) post. He pointed out that the depth of the correction is now the largest seen so far in the current cycle. The decline has also shaken market sentiment. The Crypto Fear & Greed Index has remained locked in Extreme Fear for eight consecutive days as of November 19. Sponsored Such a long streak signals that traders remain deeply cautious, with risk appetite at one of its lowest levels of the year. “This is now the longest Extreme Fear streak since the FTX collapse,” Coin Bureau wrote. The Crypto Fear & Greed Index. Source: X/Coin Bureau Sponsored Analysts Divided on Bitcoin: Bear Market or Local Bottom? Alphractal stated that extremely negative sentiment can mean two things. It can signal an upcoming local bottom during a bull market. However, in a bear market, such sentiment typically indicates continued downside. Notably, this is where analysts remain split. Some argue that a bear market has started according to the 4-year cycle. In a detailed thread, Mister Crypto also outlined several arguments for why the…