Bitcoin Faces Bear Market Risks as Analysts Warn of Demand Exhaustion

On-chain analysts are raising alarms that Bitcoin may be entering the initial phase of a prolonged bear market. Prominent analyst Willy Woo noted that the cryptocurrency remains in Phase 1 of a broader downward trend, suggesting further downside potential. Supporting this view, data from Glassnode indicates a significant state of demand exhaustion across the market. This lack of new buyer interest is currently failing to offset increasing selling pressure, leading to price instability. Market experts suggest that the recent price dip might not be a temporary correction but the start of a longer bearish cycle. Investors are now closely monitoring these on-chain metrics as sentiment turns increasingly cautious regarding the near-term outlook.