ChainCatcher news, according to Decrypt, the cryptocurrency market experienced a significant sell-off on Tuesday evening, with Bitcoin prices dropping over 5%, leading to a total liquidation amount of $526 million within 24 hours. Among these, long position liquidations amounted to $453 million, while short position liquidations were $73 million.However, analysts indicate that despite the sharp price drop, these are temporary and not a sign of a long-term bear market. In the coming months, Bitcoin is expected to benefit from China's stimulus plan, U.S. employment data, the announcement of FTX payments to creditors, and the conclusion of the U.S. election season.

ChainCatcher news, Blur and Blast founder Pacman posted on social media that the bear market of 2019 was actually frustrating, with no heat at all, and there were no users in crypto at that time. Today we have DeFi, Perp DEXs, NFTs, yield-bearing stablecoins, and most importantly, there are still quite a number of users on-chain who are very active (in terms of trading volume and scale). While it's hard to predict whether the coin price will go up or down in the coming days or weeks, this space will continue to exist. Every cycle brings new category leaders, and these new leaders are almost always built during bear markets (Blur was also built during a bear market). This is not intuitive, but times like these are the best opportunities.

ChainCatcher news, according to Cointelegraph, Raoul Pal, founder and CEO of Global Macro Investor, pointed out that as macroeconomic conditions improve, the prices of Bitcoin and gold may rise significantly.In addition, cryptocurrency trader Moataz Elsayed (also known as "Eljaboom") stated that once the price of Bitcoin breaks through the $70,000 mark, it indicates that the bear market is over.

ChainCatcher news, CryptoQuant CEO Ki Young Ju stated: "If you are selling Bitcoin now, then your holding period for Bitcoin may not exceed 3 years, because veteran holders do not sell.Bull market investors (holding period of 6 months to 2 years) sold most of their BTC holdings as Bitcoin approached its last historical high;Bear market investors (holding period of 2 years to 3 years) sold about 67% of their holdings;Veteran investors who have experienced multiple cycles (holding period of over 3 years) show historical highs in UTXO supply across all age bands."

ChainCatcher news, according to CoinDesk, data from CryptoQuant shows that the BTC profit and loss index is currently hovering around its 365-day moving average, which typically indicates that a significant adjustment or the beginning of a prolonged bear market may be imminent. This data previously showed a death cross (downward crossover) which preceded deep declines that began in May and November 2021.Additionally, CryptoQuant's Bitcoin bull-bear cycle indicator is also approaching a critical level that signals entry into a bear market. The lack of growth in Tether (USDT) market capitalization also suggests that a rebound may be difficult to achieve, as historical recoveries have almost always been attributed to an increase in stablecoin liquidity.However, CryptoQuant's data also indicates that Bitcoin whales have been increasing their holdings during the recent downtrend, with large whale holders increasing their holdings by 6.3% over the past month, the fastest rate since April 2023. The German government's large-scale selling appears to be coming to an end (with 13,100 coins remaining). Other positive factors, such as the approval of Ethereum spot ETFs in the U.S. and the continued growth of U.S. stock indices, suggest that despite signs of weakness in the short term, 2024 is still expected to see continued growth.

ChainCatcher news, Dragonfly managing partner Haseeb posted on platform X that many founders attempt to launch tokens during a bull market, but these tokens ultimately still need to go through a bear market. Haseeb is skeptical about the impact of market cycles on the long-term value of tokens, believing this suggests that certain tokens systematically perform poorly due to the market cycle at the time of issuance, which is unlikely.Haseeb further stated that while tokens issued during a bull market may have more funds for growth, market competition is relative. If the market drops by 50%, the native token ecosystem fund will also decline by 50%, with market share remaining relatively unchanged. Haseeb emphasized that the timing of fundraising activities is indeed important, but he is discussing token generation events (TGE), which are more akin to direct listings rather than fundraising activities.

ChainCatcher news, according to News.bitcoin, gold advocate and economist Peter Schiff stated on the X platform this week that the Bitcoin bear market has a long way to go, currently "at a critical support level." If the support level is unstable, the price could drop significantly. Peter Schiff attributed part of the Bitcoin decline to sales related to the Mt. Gox repayments, but he argued that this also exposes the "myth of institutional demand." He stated, "If this demand truly existed, buyers would seize the opportunity to purchase Mt. Gox Bitcoin off the market."Peter Schiff also commented on the spot Bitcoin ETF, believing that although Bitcoin ETF buyers are still holding, there are currently no signs of panic. "Based on trading activity, Bitcoin ETF buyers seem to still be holding. So far, there are no signs of panic. Bitcoin may need to drop significantly before they finally capitulate. This could happen as early as next week, especially after another large-scale sell-off this weekend." Peter Schiff also predicted that the price of Ethereum would drop. "I think the price is about to fall to $1,500. It seems those who bought into the Ethereum ETF rumors are eager to sell."Previous news, gold advocate Peter Schiff: The outflow of funds from the spot Bitcoin ETF will soon put significant downward pressure on Bitcoin.