Bitcoin (BTC) investors are facing bear market-style losses as a new report warns of a reversal that could last months. Bitcoin market conditions reflect late 2022, according to CryptoQuant's latest weekly report.

There are many obstacles for Bitcoin to return to the bull market, and investors and miners are affected by this situation. CryptoQuant reveals an increase in the number of large-cap investors, known as 'whales', who distributed $1 billion worth of coins alone in July.

Profits realized by Bitcoin whales (screenshot). Source: CryptoQuant

“The fact that new and large investors are now realizing losses could be an early sign that the Bitcoin price has bottomed,” the report states.

Bitcoin miners continue selling

CryptoQuant also stated that miners are in the "capitulation" phase and operators are also struggling to make a profit after the block subsidy was halved in April.

In a post on X (formerly Twitter) on July 9, CryptoQuant CEO Ki-Young Ju calculated that crypto markets “could be boring for the next 2-3 months.”

“Be a long-term bull but avoid excessive risk,” he suggested. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.#CryptoQuant#Bitcoin #Blockchain

We are waiting for your comments, how long do you think it will take for Bitcoin to return to the bull market?