Bitcoin in accumulation zone, late bear market stage: analyst

A CryptoQuant contributor said Bitcoin is in an accumulation zone, although a market bottom has not yet been confirmed. AxelAdlerJr said the Adaptive Sell-side Risk Ratio had fallen to 0.031, placing it in the bottom 3% of the current halving cycle. That means the reading is lower than 97% of days since April 2024, according to the analyst. AxelAdlerJr said this suggests the market is under significant stress, with the balance between coins held at a profit and at a loss deteriorating sharply while market participants’ confidence remains low. Historically, such conditions have tended to appear in the later stages of a bear market, AxelAdlerJr said, although that does not mean Bitcoin has already hit a bottom.