is the bull market over

Research has detailed Bitcoin’s recent record-low volatility and, while traders expect an eventual price breakout, the Oct. 26 BTC price move to $21,000 is not yet being interpreted as confirmation that $20,000 has now become support.  In a recent “The Week On-chain Newsletter,” Glassnode analysts mapped out a bull case and a bear case for BTC. According to the report, the bear case includes limited on-chain transaction activity, stagnant non-zero address growth and reduced miner profits presenting a strong Bitcoin sell-off risk, but data also shows that long-term hodlers are more determined than ever to weather the current bear market. The bull case, on the other hand, entails an increase in whale wallets, outflow from centralized exchanges and hodling by longer-term investors. Stall...