Bitcoin Has Entered A Bear Market, And This Data Backs It Up

The ongoing Bitcoin price play out leading into a bear market is now one of the most pressing questions in the crypto industry. Right now, Bitcoin is trading between $87,700 and $88,000, which is a 30% drop from the all-time high it reached in October 2025. 
Price action alone often leaves room for debate, but on-chain data is beginning to offer clearer guidance. Notably, analysis from CryptoQuant shows that Bitcoin’s internal market structure is shifting in a way that aligns more clo