85% of Bitcoin Bear Cycle Over, Global Macroeconomic Trends to Decide Fate

The cryptocurrency market has reached an important milestone according to The DeFi Report's latest assessment. Analysts believe that approximately 85% of the bear cycle is behind us, with the remaining 15% largely dependent on global macroeconomic developments.

The report cites several factors contributing to this conclusion, including Bitcoin's on-chain data movements similar to previous cycle bases and a significant decline in spot and futures trading volumes. These metrics have fallen to their lowest levels since the end of 2019, indicating a 'time-spread capitulation' process taking place.

The analysis also notes that asset sales by miners are increasing pressure on the market, with some redirecting their energy capacity to AI firms. However, whether Bitcoin will fall below $55,000 or remain stable depends on macroeconomic liquidity conditions in the coming weeks.