# The Current State of Crypto: Bearish or Bullish?

Source: https://www.ignasdefi.com/p/the-current-state-of-crypto-bearish
Kiwi News: https://news.kiwistand.com/stories/The-Current-State-of-Crypto-Bearish-or-Bullish?index=0x66e08cc9036508105cc26e0d0194fdcd4b9ebbc8045c2a8b526365da4c7ab775e894a435
Submitted by tim on 2024-09-10 UTC, 1 upvote, 0 comments

## Summary

Confidence in a bullish crypto outlook held since mid-2023 is starting to waver, which is presented as a sign the market is healing. Crypto veterans are privately sharing worries, with ETH named as the most concerning because of its recent underperformance. The March consensus of a typical four-year cycle is described as having proven too easy, and the piece promises a data snapshot to show how bad conditions are.

## Article

Honestly, I’ve been bullish since mid-2023, but confidence has started to shake. Good, it means the market is healing.

I also receive more and more DMs from crypto OGs sharing their worries on the market with ETH being the most worrisome due to its recent underperformance. Another comedy sign for a reversal.

Flashback to March and the consensus was of a typical 4-year cycle. It felt too easy. It turns out it was too easy!

But how bad is the situation? I wanted to leave the X bubble and check the data myself. So, here’s a snapshot of data points to understand where we really are to prepare us for what’s coming next.