The crypto market's stagnation continues, with Bitcoin's breakout potentially delayed until 2025. Factors such as a 'Dead Cross' and macroeconomic issues contribute to cautious sentiment. An upcoming US Federal Reserve rate cut in September might offer short-term relief but not sustain a long-term bullish trend.
Bitcoin's decreasing Puell Multiple may signal a bullish opportunity for 2024, according to CryptoQuant's analyst Crypto Dan.
CryptoQuant analyst Crypto Dan's chart analyzes Bitcoin's active addresses and price fluctuations from February 2023 to June 2024, identifying crucial trends within the Bitcoin network and market value.