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The research director of CryptoQuant recently shared a detailed Bitcoin chart on X, highlighting a concerning trend: the BTC market cycle indicator has once again entered a bear market phase, which is crucial for traders and investors as it defines the overall strength and direction of the market and provides insights into potential price trends based on historical price movements. According to analysis, $56000 is a key support level that the price must maintain to avoid deeper and more destructive pullbacks. If Bitcoin fails to hold at the level of $56000, the likelihood of a larger decline will increase. This potential decline will further exacerbate the nervousness of investors who are already struggling to cope with the volatile price movements that have emerged in recent weeks. @seulgi @seyedho