TechFlow news, December 22 — CryptoQuant published an analysis indicating that the Bitcoin market remains in a bearish state, with multiple network indicators showing a clear cooling of activity. Data shows that Bitcoin's 30-day moving average is below its 365-day moving average (-0.52%), confirming the current bear market structure according to the bull-bear cycle indicator. Network transaction counts have declined from approximately 460,000 to about 438,000, fees dropped from $233,000 to $230,000, and highly active addresses decreased from 43.3K to 41.5K, all suggesting reduced speculative activity and a defensive market phase.
Analysts noted that the current situation resembles the 2018 bear market, but today's user base is larger (approximately 800,000 vs. 600,000 in 2018), reflecting stronger structural resilience. Historical patterns suggest that such low-activity periods often precede higher volatility, and investors should closely monitor subsequent market developments.
