Two technical indicators suggest a Bitcoin bear market

80% of crucial on-chain metrics indicate bearish conditions for Bitcoin. The cryptocurrency recently fell nearly 14%, trading at about 91,600 USD. Analysts note a recovery requires closing above 105,000 USD and supportive Federal Reserve actions.

The selling pressure is attributed to risk aversion in traditional markets, particularly due to profit-taking in AI stocks. Analysts express concerns that the current data points towards the beginning of a bear market for Bitcoin, marked by technical indicators like the death cross.