Analyst: Crypto Market Still in a Structural Bear Market Defense Mode

BlockBeats News, April 17th - Crypto market analyst Axel released a report stating that since early 2026, capital has been consistently flowing out of the Bitcoin network, leading to a continuous decline in market capitalization, with the growth rate always failing to turn positive. The realized market cap change over the last 30 days is still negative (-0.32%), but it has narrowed compared to the -0.54% at the beginning of April. The outflow has slowed down, but a reversal has not been confirmed yet. Axel pointed out that as long as the growth differential remains negative, the market is still in a structurally defensive bear market state. To achieve a bullish reversal, fresh capital inflows are needed.