These past few weeks have seen a lot of bear market vibrations. First, BTC appears to have no demand and is gripped by gravity, losing support after support. There's also a lot of distrust in regulation; you can observe the privacy coin altseason: ZEC, XMR, DASH, etc., all altcoins have seen impressive gains in recent months. Regulation and institutional entry have been disastrous for the sector. There's so much manipulation. These people have already brought down the traditional fiat system, so they can't be trusted.
Now we know, however, that bear markets have always existed: they occurred in 2014, 2018 and 2022. This cycle lacked momentum for altcoins (the many scams and capital dilution across millions of tokens also had an impact). Bearish factors on the BTC chart:
1) Break of the 50-period moving average (which foreshadows bear markets).

2) Death Cross (usually confirms bear markets, although there have been situations where this indicator only led to sharp corrections, like in April 2025).

3) Double top, like in 2021 (double ATH).
4) Loss of $100,000 (this is a psychological factor).
Bearish factors on-chain: exchange deposits. Institutional side: largest ETF outflow ever.
Now, keep in mind that other factors the market is discounting include a likely recession, geopolitical uncertainty (wars), US-China disputes and a likely postponement of the rate cut (initially scheduled for December). The positive factor is the end of quantitative tightening in December, but this doesn't necessarily lead to quantitative easing (which could bring liquidity to the market). Obviously, don't listen to those who say a bear market is 100% certain. While in stocks, a bear market is defined as a -25% drop, in the BTC world, a bear market is defined as a drop beyond -50%. You only notice it once you're already in, and at that point... it's too late to sell. If you have an investment thesis on BTC, stick with it. Just avoid "buying the dip" on altcoins.
Oh, the bear market vibes also stem from the announcement of the closure of DappRadar: the well-known tracking and crypto news portal, after a full 7 years of activity. It's no coincidence that it's happening in a bearish or uncertain environment and in the midst of the AI boom (which may have damaged similar portals).

This is an OG platform, and if you were early in the crypto world, you can only be sad. We will all miss DappRadar.
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