Bitcoin has continued to struggle recently, and its price even briefly fell below $60,000.

On-chain data shows the Bitcoin whales have continued to hold onto their coins despite the fact that BTC has gone through bearish action recently.<

A quant has explained that Bitcoin could end up seeing an extended drawdown if the past pattern in the Open Interest ends up repeating.

A quant has pointed out a pattern in a Bitcoin on-chain indicator that may imply the bull phase may be close to ending for now.

Data shows that Bitcoin Coinbase Premium has plunged into the red territory, which may explain why the asset’s price has crashed to under $68,000.<

Data shows the Bitcoin Coinbase Premium Index has turned negative once more, a sign that could prove to be bearish for the asset’s price.

Data shows that Bitcoin traders have been clamoring on social media for the price to reach a new all-time high (ATH) after breaking above $52,000.<

On-chain data shows a Bitcoin ratio has found rejection at a historical level, a sign that the asset’s downtrend may continue.

On-chain data shows a massive amount of Bitcoin dormant since between 5 and 7 years ago has observed some movement during the past day.

An on-chain indicator from CryptoQuant is currently forming a pattern that could suggest a bearish turn might take place for Bitcoin.