CryptoQuant's latest analysis indicates that the cryptocurrency market is experiencing a correction rather than entering a bear market. Despite falling prices, the Realized Cap (RC) is rising, suggesting strong distribution and the entry of new buyers at higher cost bases. Additionally, the 30-day average netflow is negative, indicating that Bitcoin is leaving exchanges, which typically aligns with market corrections. The report also highlights similar trends in spot ETFs, where outflows remain limited compared to their growth. Although market momentum is decreasing, the data does not support the onset of a multi-year bear market, according to CryptoQuant's findings.