Bitcoin could enter bear market without rebound, analyst says

Concerns are growing that Bitcoin could enter a full-blown bear market amid slowing demand in the cryptocurrency market and persistent macroeconomic instability. Nick Ruck, head of research at LVRG, stated that Bitcoin could transition into a clear bear market trend if a short-term rebound does not occur, Cointelegraph reported. He attributed the ongoing selling pressure across the crypto market to a combination of factors, including delays in discussions on the U.S. Crypto-Asset Market Structure (CLARITY) Act and general economic uncertainty. Ruck noted that investors are reducing their exposure to risk assets despite speculation that a pro-crypto figure could be appointed as the next Federal Reserve Chair. This de-risking comes as the U.S. economy grapples with prolonged geopolitical conflicts, U.S. dollar instability, rising unemployment, and inflation. He concluded that the sell-off could intensify if market demand fails to recover swiftly.