đCrypto market's seeing red, but don't sweat it, folks! CryptoQuant analysts are still calling it a bull season.đ
- BTC's hanging around key levels, below the on-chain realized price of $65,800.
- BTC whale demand growth is weak, growing at a monthly rate of 4.8%.
- Stablecoin liquidity is on the low, slowing the price rallies.
But hey, this isn't all doom and gloom!đ
- The BTC and Ethereum Coinbase Premiums are below zero since May 20, showing weak demand from U.S. investors.
- Bitcoin exchange-traded funds have been on an outflow streak since June 13, losing over $100 million daily in the past week.
CryptoQuant's Bull-Bear Market Cycle indicator is still trending downwards, but we're still in a bull market, just without much upward momentum.
BTC could dip to $60,000, but remember, the market's still bullish!đ What's your take on this? Share your thoughts below! #CryptoMarket #BullSeason