#LADYS View: BTC is at a key bull-bear stage of this cycle

According to CryptoQuant's data, the BTC profit and loss index is currently hovering around its 365-day moving average, which usually represents an upcoming significant adjustment or the beginning of a continued Bear Market. This data previously indicated the precursor to a Depth decline that began in May and November 2021 when a death cross occurred.
In addition, CryptoQuant's BTC Bull Market cycle indicator is also approaching a critical level indicating the entry into a Bear Market. The lack of rise in Tether (USDT) Market Cap also indicates that a Rebound may be difficult to achieve, as historical recoveries have been largely attributed to the rise in stablecoin Liquidity.
However, CryptoQuant's data also shows that BTCWhale has been increasing its holdings in the recent downtrend, with Whaleholder increasing its holdings by 6.3% in the past month, the fastest pace since April 2023. The German government's massive sell-off seems to be coming to an end (with 13,100 remaining). Other favorable information factors, such as the approved ETH Spot ETF and the continuous rise of US stock indices, indicate that despite short-term weakness, there will still be a pump in 2024.