Analysis: Bitcoin's bear market "time pain" may continue for months, and the bottom could be gradually approaching

ME News message: On April 2nd (UTC+8), Bitcoin’s bear market has been ongoing for nearly six months. Analysis suggests the market may be entering a “time pain” phase, where price action stays range-bound for the long term rather than seeing sharp declines, leaving both bulls and bears feeling worn out due to a lack of direction. Glassnode analysis indicates that currently, long-term Bitcoin holders (holding for more than 6 months) account for about 80%, slightly below the 85% level seen at previous bear-market bottoms. This implies that Bitcoin’s bear market may be nearing the bottom, but it could still take several months of “boring” sideways consolidation to form genuine support. Note: “Time Pain” (Time Pain) is a term used to describe the market’s psychology and price-trend state, contrasting with the more commonly used concept of “Price Pain.” (Source: ODAILY)