On February 17, the CryptoQuant Bull & Bear Index recently hit its lowest point since the FTX crash in 2022. This indicator measures market momentum by the difference between the market's profit and loss index and its 365-day moving average. Historical data shows that similar extreme bear market levels often indicate the formation of a bottom.
The CryptoQuant Bull/Bear Index hit a new low since the FTX crash, but has not yet reached the "extreme bear market" range.
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