On September 22nd, according to Cointelegraph, the Federal Reserve cut interest rates last week, which was seen as an important positive factor for bitcoin's rise, but the market did not rise as a result, suggesting that the bitcoin bull market cycle may be coming to an end. Alphractal founder Joao Wedson wrote on X on Monday: Bitcoin has shown signs of cycle exhaustion, but few people have noticed.
Signals on multiple necklaces suggest that bitcoin's rally may have run out of steam. Bitcoin has shown a decline in profitability using the output margin (SOPR), a measure of the overall profitability of all spent bitcoin transactions on the blockchain, increasing the likelihood of a deeper correction. Sharpe ratios below 2024 levels mean lower risk-to-return and profit potential. Wedson added: This will not attract as many institutional investors as most people think. Even if bitcoin hits new highs, profitability will remain low and the real focus will shift to counterfeit products.
Analyst: Bitcoin bull market may be coming to an end
2025-09-22 10:38:19
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