On-chain data shows the Bitcoin Hashrate has slumped back down recently as the cryptocurrency’s price has continued in a bearish trajectory.

Data shows Bitcoin users on the Coinbase exchange have been selling recently, a potential reason behind BTC’s drop under $58,000.

On-chain data shows the OTC desks that Bitcoin miners like to use have seen their balance shoot up, a sign that historically been bearish.

A Bitcoin cycle indicator from the analytics firm CryptoQuant suggests BTC has gone through a transition to a bearish phase after the crash.

Data shows the Bitcoin Fear & Greed Index is right outside the entrance of the extreme greed territory after the latest crash in BTC’s price.

Data shows that ‘paper’ Bitcoin has observed a notable surge recently while the cryptocurrency’s spot price has plunged down.

On-chain data shows the Bitcoin whales took part in significant net distribution in the past month, potentially feeding into BTC’s bearish momentum

On-chain data shows the Bitcoin mining hashrate has declined to the lowest since early March.

On-chain data shows the Bitcoin Supply in Profit has taken a significant hit following the crash the cryptocurrency has seen recently.

Data shows the sentiment among the Bitcoin investors has exited the greed territory following the latest crash in the asset below $61,000.