Greeks.Live: Market Divided on Whether Bear Market Has Begun, Overall Sentiment Remains Bearish on Short-Term Trends

According to ChainCatcher, Greeks.Live’s daily market briefing indicates that overall market sentiment remains bearish in the short term. Most traders are focusing on the $110,000 to $108,000 support range, believing the price may test these lows. There is disagreement in the market about whether a bear market has begun, with some community members suggesting that a continued decline next Monday would confirm the onset of a bear market.

The period from mid-September to October is seen as a potential window for a rebound, with expectations that possible interest rate cuts could trigger a market turnaround. From a technical perspective, BTC’s weekly MACD is at risk of a bearish crossover, similar to the market conditions in December last year, and the adjustment cycle is expected to last about a month.