Analyst: The crypto market remains in a structurally bearish defensive state
BlockBeats News, on April 17, crypto market analyst Axel published a report stating that since early 2026, capital has continued to flow out of the Bitcoin network, the realized market cap has continued to decline, and the market cap growth rate has never turned positive. The current 30-day realized market cap change remains negative (-0.32%), but has narrowed compared to -0.54% at the beginning of April. Outflows have slowed, but a reversal has not yet been confirmed. Axel pointed out that as long as the growth differential remains negative, the market is still in a structurally defensive bear state; in order to see a bullish reversal, the inflow of fresh capital needs to be restored.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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