The post Bitcoin Slips Below $90,000 as Onchain Metrics Signal Early Bear Market Conditions appeared on BitcoinEthereumNews.com.

Onchain profits flip negative as Bitcoin loses key cost bases, raising bear market risk and focus on support zones. Bitcoin has fallen below the $90,000 level, pushing several onchain profitability measures into negative territory. Market data now points to growing downside pressure after a long period of strong gains.  Analysts explain that this current trend resembles early stages of past BTC bear markets. And for now, focus has turned toward major support zones as selling pressure builds. Onchain Metrics Point to Early Bear Market Conditions Bitcoin’s recent price action reflects a clear shift in short-term market structure. As per data from TradingView, consolidation is breaking lower. As such, this has placed attention on price levels beneath current ranges. Onchain indicators also suggest investor behavior is changing as profits weaken. CryptoQuant reported that Bitcoin holders have moved from realizing profits to locking in losses for the first time in over two years. Additionally, net realized profit and loss have turned negative.  For context, net realized profit tracks gains or losses when coins move onchain. This metric dropped to 69,000 BTC over the past four weeks, reflecting fading market strength. Image Source: CryptoQuant Market commentators at CryptoQuant said Bitcoin holders began realizing net losses for the first time since October 2023. Declining peaks in realized profits since March 2024 point to slowing price momentum as the prior bull cycle fades. Annual net realized profits have also fallen sharply in recent months. Bitcoin Loses Key Cost Basis Levels as Bearish Signals Multiply Data shows annual realized profits dropped to about 2.5 million BTC, down from 4.4 million BTC in October. Similar levels last appeared in March 2022 during a prolonged market downturn. Analysts noted that current onchain profit behavior aligns with early bear market conditions. Past cycles show comparable patterns, though analysts warned…

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Filed under: News - @ January 24, 2026 4:18 am