Analyst: Current market is far from a bear market

The current market is far from exhibiting the typical signs of a bear market, according to an analysis by CryptoQuant contributor CrazzyBlockk, Decrypt reported. CrazzyBlockk explained that a bear market is generally signaled by panic selling, which tends to begin when short-term investors start realizing losses of 20-40%. However, losses for this investor group during the current downturn are only in the 5-13% range. The contributor concluded that this makes the recent price action more characteristic of a mid-cycle correction.