{"id":207803,"date":"2026-02-05T07:59:40","date_gmt":"2026-02-04T22:59:40","guid":{"rendered":"https:\/\/cryptonews.com\/kr\/?p=207803"},"modified":"2026-02-05T07:56:18","modified_gmt":"2026-02-04T22:56:18","slug":"bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/","title":{"rendered":"\ud06c\ub9bd\ud1a0\ud000\ud2b8 \u201c\ube44\ud2b8\ucf54\uc778, \uc57d\uc138\uc7a5 \uc9c4\uc785 \uc2e0\ud638\u2026 \uae30\uad00 \uc218\uc694 \ub454\ud654\u201d"},"content":{"rendered":"<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"574\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1-1024x574.jpg\" alt=\"\ube44\ud2b8\ucf54\uc778 \uc57d\uc138\uc7a5\" class=\"wp-image-207805\" srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1-1024x574.jpg 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1-300x168.jpg 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1-768x430.jpg 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1-450x252.jpg 450w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1.jpg 1456w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"><\/figure><p><a href=\"https:\/\/cryptoquant.com\/insights\/research\">\ud06c\ub9bd\ud1a0\ud000\ud2b8\uc758 \uc2e0\uaddc \ub9ac\uc11c\uce58<\/a>\uc5d0 \ub530\ub974\uba74, <a href=\"https:\/\/cryptonews.com\/kr\/coins\/bitcoin\/\">\ube44\ud2b8\ucf54\uc778<\/a>\uc774 \ub2e4\uc2dc \ud55c \ubc88 \uc57d\uc138\uc7a5 \uad6d\uba74\uc5d0 \uc9c4\uc785\ud558\uace0 \uc788\uc744 \uac00\ub2a5\uc131\uc774 \uc81c\uae30\ub410\ub2e4. \uc628\uccb4\uc778 \uc9c0\ud45c \uc804\ubc18\uacfc \uae30\uad00 \uc790\uae08 \ud750\ub984 \uc57d\ud654, \uadf8\ub9ac\uace0 \uc720\ub3d9\uc131 \ucd95\uc18c \uc2e0\ud638\uac00 \ub9de\ubb3c\ub9ac\uba70 \uad6c\uc870\uc801\uc778 \ud558\ubc29 \ub9ac\uc2a4\ud06c\uac00 \ucee4\uc9c0\uace0 \uc788\ub2e4\ub294 \ubd84\uc11d\uc774\ub2e4.<\/p><p>\ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \ucd5c\uc2e0 \u2018\ud06c\ub9bd\ud1a0 \uc704\ud074\ub9ac \ub9ac\ud3ec\ud2b8(Crypto Weekly Report)\u2019\uc5d0\uc11c \uc5ec\ub7ec \uc628\uccb4\uc778 \uc9c0\ud45c\uac00 \ud604\uc7ac \uc2dc\uc7a5\uc774 \ubca0\uc5b4 \ub9c8\ucf13 \uccb4\uc81c\uc5d0 \ub4e4\uc5b4\uc130\uc74c\uc744 \ud655\uc778\ud574\uc8fc\uace0 \uc788\ub2e4\uace0 \ubc1d\ud614\ub2e4. \ube44\ud2b8\ucf54\uc778\uc740 \uc9c0\ub09c\ud574 10\uc6d4 \ucd08 \uc57d 12\ub9cc6,000\ub2ec\ub7ec \ubd80\uadfc\uc5d0\uc11c \uace0\uc810\uc744 \ud615\uc131\ud588\uc73c\uba70, \ub2f9\uc2dc \ubd88 \uc2a4\ucf54\uc5b4 \uc9c0\uc218(Bull Score Index)\ub294 80\uc73c\ub85c \uac15\ud55c \uac15\uc138 \ud658\uacbd\uc744 \ub098\ud0c0\ub0c8\ub2e4.<\/p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Bitcoin\u2019s bear market is off to a weaker start than 2022.<br><br>Since falling below the 365-day MA on Nov 12, 2025, <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> is down 23% in 83 days, vs. just 6% over the same period in early 2022.<br><br>Momentum is deteriorating faster this cycle. <a href=\"https:\/\/t.co\/t4xD2vljVI\">pic.twitter.com\/t4xD2vljVI<\/a><\/p>&mdash; CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/2019061014629658651?ref_src=twsrc%5Etfw\">February 4, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><p>\uadf8\ub7ec\ub098 10\uc6d4 10\uc77c \ub300\uaddc\ubaa8 \uccad\uc0b0 \uc0ac\ud0dc \uc774\ud6c4 \ud574\ub2f9 \uc9c0\uc218\ub294 \uc57d\uc138\ub85c \uc804\ud658\ub410\uace0, \ud604\uc7ac\ub294 0\uae4c\uc9c0 \ub5a8\uc5b4\uc9c4 \uc0c1\ud0dc\ub2e4. <a href=\"https:\/\/cryptonews.com\/news\/why-is-crypto-down-today-february-4-2026\/\">\ube44\ud2b8\ucf54\uc778 \uac00\uaca9 \uc5ed\uc2dc 7\ub9cc5,000\ub2ec\ub7ec\uc120<\/a>\uc5d0 \uadfc\uc811\ud574 \uc788\ub2e4. \ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \uc774\ub97c \ub450\uace0 \u201c\uad11\ubc94\uc704\ud55c \uad6c\uc870\uc801 \uc57d\uc138\ub97c \uc2dc\uc0ac\ud55c\ub2e4\u201d\uace0 \ud3c9\uac00\ud588\ub2e4.<\/p><figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"573\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"\ube44\ud2b8\ucf54\uc778 \ubd88\uc2a4\ucf54\uc5b4 \uc778\ub371\uc2a4\" class=\"wp-image-207804 lazyload\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075315\/image.jpeg\" data-srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075315\/image.jpeg 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075315\/image-300x168.jpeg 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075315\/image-768x430.jpeg 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075315\/image-450x252.jpeg 450w\"><\/figure><h2 class=\"wp-block-heading\">ETF \uc790\uae08 \ud750\ub984, \uc21c\ud48d\uc5d0\uc11c \uc5ed\ud48d\uc73c\ub85c<\/h2><span class=\"replacer\"><\/span><p>\ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \ud2b9\ud788 \ubbf8\uad6d \ud604\ubb3c \ube44\ud2b8\ucf54\uc778 ETF\ub97c \ud1b5\ud55c \uae30\uad00 \uc218\uc694\uac00 \ub69c\ub837\ud558\uac8c \ubc18\uc804\ub410\ub2e4\uace0 \uc9c0\uc801\ud588\ub2e4. \uc9c0\ub09c\ud574 \uac19\uc740 \uc2dc\uc810\uc5d0\ub294 ETF\uac00 \uc57d 4\ub9cc6,000BTC\ub97c \uc21c\ub9e4\uc218\ud588\uc9c0\ub9cc, 2026\ub144\uc5d0\ub294 \uc624\ud788\ub824 \uc57d 1\ub9cc600BTC\ub97c \uc21c\ub9e4\ub3c4\ud55c \uac83\uc73c\ub85c \ub098\ud0c0\ub0ac\ub2e4.<\/p><p>\uc774\ub294 2025\ub144\uacfc \ube44\uad50\ud574 \uc57d 5\ub9cc6,000BTC \uaddc\ubaa8\uc758 \uc218\uc694 \uacf5\ubc31\uc774 \ubc1c\uc0dd\ud55c \uc148\uc73c\ub85c, \uc2dc\uc7a5 \uc804\ubc18\uc5d0 \uc9c0\uc18d\uc801\uc778 \ub9e4\ub3c4 \uc555\ub825\uc744 \uac00\ud558\ub294 \uc694\uc778\uc73c\ub85c \uc791\uc6a9\ud558\uace0 \uc788\ub2e4\ub294 \ubd84\uc11d\uc774\ub2e4.<\/p><h2 class=\"wp-block-heading\">\ubbf8\uad6d \ud22c\uc790\uc790 \u2018\uc800\uac00 \ub9e4\uc218\u2019 \uc2e4\uc885<\/h2><span class=\"replacer\"><\/span><p>\uac00\uaca9 \uc870\uc815\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \ubbf8\uad6d \ud22c\uc790\uc790\ub4e4\uc758 \ucc38\uc5ec\ub294 \uc5ec\uc804\ud788 \ubd80\uc9c4\ud55c \uac83\uc73c\ub85c \ub098\ud0c0\ub0ac\ub2e4. \ud06c\ub9bd\ud1a0\ud000\ud2b8\uc5d0 \ub530\ub974\uba74, \ubbf8\uad6d \ud604\ubb3c \uc218\uc694\ub97c \uac00\ub2a0\ud558\ub294 \uc9c0\ud45c\ub85c \uc790\uc8fc \ud65c\uc6a9\ub418\ub294 \u2018\ucf54\uc778\ubca0\uc774\uc2a4 \ud504\ub9ac\ubbf8\uc5c4\u2019\uc740 10\uc6d4 \uc911\uc21c \uc774\ud6c4 \uacc4\uc18d\ud574\uc11c \uc74c\uc218 \uc0c1\ud0dc\ub97c \uc720\uc9c0\ud558\uace0 \uc788\ub2e4.<\/p><p>\uacfc\uac70 \uac15\uc138\uc7a5\uc740 \ubbf8\uad6d \ub0b4 \uac15\ud55c \ub9e4\uc218\uc138\uc5d0 \ud798\uc785\uc5b4 \ucf54\uc778\ubca0\uc774\uc2a4 \ud504\ub9ac\ubbf8\uc5c4\uc774 \ud50c\ub7ec\uc2a4\ub85c \uc804\ud658\ub418\ub294 \ud750\ub984\uacfc \ud568\uaed8 \uc804\uac1c\ub3fc \uc654\ub2e4. \uadf8\ub7ec\ub098 \uc774\ub7ec\ud55c \ud328\ud134\uc740 \uc544\uc9c1 \ub418\ub3cc\uc544\uc624\uc9c0 \uc54a\uc558\uc73c\uba70, \ub9ac\ud14c\uc77c\uacfc \uae30\uad00 \ubaa8\ub450 \uc801\uadf9\uc801\uc778 \uc800\uac00 \ub9e4\uc218\uc5d0 \ub098\uc11c\uc9c0 \uc54a\uace0 \uc788\uc74c\uc744 \uc2dc\uc0ac\ud55c\ub2e4\ub294 \uc124\uba85\uc774\ub2e4.<\/p><h2 class=\"wp-block-heading\">\uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uc720\ub3d9\uc131, 2023\ub144 \uc774\ud6c4 \uccab \uac10\uc18c<\/h2><span class=\"replacer\"><\/span><p>\uae30\uc900 \uc2dc\uac00\ucd1d\uc561 \uc99d\uac00\uc728\uc774 1\uc5b53,300\ub9cc \ub2ec\ub7ec \uac10\uc18c\ud558\uba70 \uc74c\uc218\ub85c \uc804\ud658\ub410\ub294\ub370, \uc774\ub294 2023\ub144 10\uc6d4 \uc774\ud6c4 \ucc98\uc74c \ub098\ud0c0\ub09c \ucd95\uc18c\ub2e4.<\/p><p>\uc2a4\ud14c\uc774\ube14\ucf54\uc778 \ud655\uc7a5\uc740 2025\ub144 10\uc6d4 \ub9d0 159\uc5b5 \ub2ec\ub7ec\ub85c \uc815\uc810\uc744 \ucc0d\uc5c8\uc73c\uba70, \uc774\ud6c4 \ub098\ud0c0\ub09c \ubc18\uc804\uc740 \uc804\ud615\uc801\uc778 \uc57d\uc138\uc7a5 \uad6d\uba74\uc5d0\uc11c \uad00\uce21\ub418\ub294 \uc720\ub3d9\uc131 \ud68c\uc218 \ud750\ub984\uacfc \uc77c\uce58\ud55c\ub2e4\ub294 \uc124\uba85\uc774\ub2e4.<\/p><p>\uc544\uc6b8\ub7ec 1\ub144 \uae30\uc900 \u2018\uba85\ubaa9 \ud604\ubb3c \uc218\uc694\u2019 \uc99d\uac00\ud3ed\uc740 110\ub9cc BTC\uc5d0\uc11c 7\ub9cc7,000BTC\ub85c \ubb34\ub824 93% \uae09\uac10\ud588\ub2e4. \uc774\ub294 \uc2e0\uaddc \uc790\uae08 \uc720\uc785\uc774 \uae09\uaca9\ud788 \ub454\ud654\ub418\uace0 \uc788\uc74c\uc744 \ub2e4\uc2dc \ud55c \ubc88 \ubcf4\uc5ec\uc8fc\ub294 \uc9c0\ud45c\ub2e4.<\/p><h2 class=\"wp-block-heading\">2022\ub144 \uc774\ud6c4 \uccab \uc7a5\uae30 \ud3c9\uade0\uc120 \ubd95\uad34<\/h2><span class=\"replacer\"><\/span><p>\uae30\uc220\uc801 \uce21\uba74\uc5d0\uc11c\ub3c4 \uacbd\uace0 \uc2e0\ud638\uac00 \ub098\ud0c0\ub098\uace0 \uc788\ub2e4. \ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \ube44\ud2b8\ucf54\uc778\uc774 2022\ub144 3\uc6d4 \uc774\ud6c4 \ucc98\uc74c\uc73c\ub85c 365\uc77c \uc774\ub3d9\ud3c9\uade0\uc120 \uc544\ub798\ub85c \ub0b4\ub824\uac14\ub2e4\uace0 \uc9c0\uc801\ud588\ub2e4.<\/p><p>\uc774 \ud3c9\uade0\uc120 \ubd95\uad34 \uc774\ud6c4 83\uc77c \ub3d9\uc548 \ube44\ud2b8\ucf54\uc778\uc740 \uc774\ubbf8 23% \ud558\ub77d\ud588\ub294\ub370, \uc774\ub294 2022\ub144 \uc57d\uc138\uc7a5 \ucd08\ubc18\ubcf4\ub2e4\ub3c4 \ub354 \uac00\ud30c\ub978 \ub099\ud3ed\uc774\ub2e4.<\/p><p>\uc8fc\uc694 \uc628\uccb4\uc778 \uc9c0\uc9c0\uc120\uc774 \ubb34\ub108\uc9c4 \uc0c1\ud669\uc5d0\uc11c, \ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \uc0c8\ub85c\uc6b4 \uc218\uc694\uc640 \uc720\ub3d9\uc131\uc744 \ub418\uc0b4\ub9b4 \ub9cc\ud55c \ucd09\ub9e4\uac00 \ub4f1\uc7a5\ud558\uc9c0 \uc54a\ub294\ub2e4\uba74 \ube44\ud2b8\ucf54\uc778\uc774 7\ub9cc~6\ub9cc \ub2ec\ub7ec \uad6c\uac04\uae4c\uc9c0 \ucd94\uac00 \ud558\ub77d\ud560 \uac00\ub2a5\uc131\ub3c4 \ubc30\uc81c\ud560 \uc218 \uc5c6\ub2e4\uace0 \uacbd\uace0\ud588\ub2e4.<\/p><figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"570\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"\ube44\ud2b8\ucf54\uc778 \uac00\uaca9\uacfc \ud2b8\ub808\uc774\ub354 \uc628\uccb4\uc778 \uc2e4\ud604\uac00\uaca9 \ubc34\ub4dc \ube44\uad50 \ucc28\ud2b8\" class=\"wp-image-207806 lazyload\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075754\/image-1-2-1024x570.jpg\" data-srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075754\/image-1-2-1024x570.jpg 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075754\/image-1-2-300x167.jpg 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075754\/image-1-2-768x428.jpg 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075754\/image-1-2-450x250.jpg 450w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075754\/image-1-2.jpg 1536w\"><\/figure>","protected":false},"excerpt":{"rendered":"<p>\ud06c\ub9bd\ud1a0\ud000\ud2b8\uc758 \uc2e0\uaddc \ub9ac\uc11c\uce58\uc5d0 \ub530\ub974\uba74, \ube44\ud2b8\ucf54\uc778\uc774 \ub2e4\uc2dc \ud55c \ubc88 \uc57d\uc138\uc7a5 \uad6d\uba74\uc5d0 \uc9c4\uc785\ud558\uace0 \uc788\uc744 \uac00\ub2a5\uc131\uc774 \uc81c\uae30\ub410\ub2e4. \uc628\uccb4\uc778 \uc9c0\ud45c \uc804\ubc18\uacfc \uae30\uad00 \uc790\uae08 \ud750\ub984 \uc57d\ud654, \uadf8\ub9ac\uace0 \uc720\ub3d9\uc131 \ucd95\uc18c \uc2e0\ud638\uac00 \ub9de\ubb3c\ub9ac\uba70 \uad6c\uc870\uc801\uc778 \ud558\ubc29 \ub9ac\uc2a4\ud06c\uac00 \ucee4\uc9c0\uace0 \uc788\ub2e4\ub294 \ubd84\uc11d\uc774\ub2e4.\ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \ucd5c\uc2e0 \u2018\ud06c\ub9bd\ud1a0 \uc704\ud074\ub9ac \ub9ac\ud3ec\ud2b8(Crypto Weekly Report)\u2019\uc5d0\uc11c \uc5ec\ub7ec \uc628\uccb4\uc778 \uc9c0\ud45c\uac00 \ud604\uc7ac \uc2dc\uc7a5\uc774 \ubca0\uc5b4 \ub9c8\ucf13 \uccb4\uc81c\uc5d0 \ub4e4\uc5b4\uc130\uc74c\uc744 \ud655\uc778\ud574\uc8fc\uace0 \uc788\ub2e4\uace0 \ubc1d\ud614\ub2e4. \ube44\ud2b8\ucf54\uc778\uc740 \uc9c0\ub09c\ud574 10\uc6d4 \ucd08 \uc57d [&hellip;]<\/p>\n","protected":false},"author":706,"featured_media":207805,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"editors":[165],"sponsored_companies":[],"class_list":["post-207803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","editors-jaeyoon-lee"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\ud06c\ub9bd\ud1a0\ud000\ud2b8 \u201c\ube44\ud2b8\ucf54\uc778, \uc57d\uc138\uc7a5 \uc9c4\uc785 \uc2e0\ud638\u2026 \uae30\uad00 \uc218\uc694 \ub454\ud654\u201d<\/title>\n<meta name=\"description\" content=\"\ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \uc628\uccb4\uc778 \uc9c0\ud45c, \uae30\uad00 \uc218\uc694 \ub454\ud654, \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uc720\ub3d9\uc131 \ucd95\uc18c\ub97c \uadfc\uac70\ub85c \ube44\ud2b8\ucf54\uc778\uc774 \ub2e4\uc2dc \uc57d\uc138\uc7a5 \uad6d\uba74\uc5d0 \uc9c4\uc785\ud560 \uac00\ub2a5\uc131\uc744 \uacbd\uace0\ud588\ub2e4. ETF \uc790\uae08 \ud750\ub984\uacfc \uae30\uc220\uc801 \ubd95\uad34 \uc2e0\ud638\uac00 \ud558\ubc29 \ub9ac\uc2a4\ud06c\ub97c \ud0a4\uc6b0\uace0 \uc788\ub2e4.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\ud06c\ub9bd\ud1a0\ud000\ud2b8 \u201c\ube44\ud2b8\ucf54\uc778, \uc57d\uc138\uc7a5 \uc9c4\uc785 \uc2e0\ud638\u2026 \uae30\uad00 \uc218\uc694 \ub454\ud654\u201d\" \/>\n<meta property=\"og:description\" content=\"\ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \uc628\uccb4\uc778 \uc9c0\ud45c, \uae30\uad00 \uc218\uc694 \ub454\ud654, \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uc720\ub3d9\uc131 \ucd95\uc18c\ub97c \uadfc\uac70\ub85c \ube44\ud2b8\ucf54\uc778\uc774 \ub2e4\uc2dc \uc57d\uc138\uc7a5 \uad6d\uba74\uc5d0 \uc9c4\uc785\ud560 \uac00\ub2a5\uc131\uc744 \uacbd\uace0\ud588\ub2e4. ETF \uc790\uae08 \ud750\ub984\uacfc \uae30\uc220\uc801 \ubd95\uad34 \uc2e0\ud638\uac00 \ud558\ubc29 \ub9ac\uc2a4\ud06c\ub97c \ud0a4\uc6b0\uace0 \uc788\ub2e4.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/\" \/>\n<meta property=\"og:site_name\" content=\"Cryptonews Korea\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-04T22:59:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1456\" \/>\n\t<meta property=\"og:image:height\" content=\"816\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:description\" content=\"\ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \uc628\uccb4\uc778 \uc9c0\ud45c, \uae30\uad00 \uc218\uc694 \ub454\ud654, \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uc720\ub3d9\uc131 \ucd95\uc18c\ub97c \uadfc\uac70\ub85c \ube44\ud2b8\ucf54\uc778\uc774 \ub2e4\uc2dc \uc57d\uc138\uc7a5 \uad6d\uba74\uc5d0 \uc9c4\uc785\ud560 \uac00\ub2a5\uc131\uc744 \uacbd\uace0\ud588\ub2e4. ETF \uc790\uae08 \ud750\ub984\uacfc \uae30\uc220\uc801 \ubd95\uad34 \uc2e0\ud638\uac00 \ud558\ubc29 \ub9ac\uc2a4\ud06c\ub97c \ud0a4\uc6b0\uace0 \uc788\ub2e4.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1.jpg\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\ud06c\ub9bd\ud1a0\ud000\ud2b8 \u201c\ube44\ud2b8\ucf54\uc778, \uc57d\uc138\uc7a5 \uc9c4\uc785 \uc2e0\ud638\u2026 \uae30\uad00 \uc218\uc694 \ub454\ud654\u201d","description":"\ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \uc628\uccb4\uc778 \uc9c0\ud45c, \uae30\uad00 \uc218\uc694 \ub454\ud654, \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uc720\ub3d9\uc131 \ucd95\uc18c\ub97c \uadfc\uac70\ub85c \ube44\ud2b8\ucf54\uc778\uc774 \ub2e4\uc2dc \uc57d\uc138\uc7a5 \uad6d\uba74\uc5d0 \uc9c4\uc785\ud560 \uac00\ub2a5\uc131\uc744 \uacbd\uace0\ud588\ub2e4. ETF \uc790\uae08 \ud750\ub984\uacfc \uae30\uc220\uc801 \ubd95\uad34 \uc2e0\ud638\uac00 \ud558\ubc29 \ub9ac\uc2a4\ud06c\ub97c \ud0a4\uc6b0\uace0 \uc788\ub2e4.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/","og_locale":"ko_KR","og_type":"article","og_title":"\ud06c\ub9bd\ud1a0\ud000\ud2b8 \u201c\ube44\ud2b8\ucf54\uc778, \uc57d\uc138\uc7a5 \uc9c4\uc785 \uc2e0\ud638\u2026 \uae30\uad00 \uc218\uc694 \ub454\ud654\u201d","og_description":"\ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \uc628\uccb4\uc778 \uc9c0\ud45c, \uae30\uad00 \uc218\uc694 \ub454\ud654, \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uc720\ub3d9\uc131 \ucd95\uc18c\ub97c \uadfc\uac70\ub85c \ube44\ud2b8\ucf54\uc778\uc774 \ub2e4\uc2dc \uc57d\uc138\uc7a5 \uad6d\uba74\uc5d0 \uc9c4\uc785\ud560 \uac00\ub2a5\uc131\uc744 \uacbd\uace0\ud588\ub2e4. ETF \uc790\uae08 \ud750\ub984\uacfc \uae30\uc220\uc801 \ubd95\uad34 \uc2e0\ud638\uac00 \ud558\ubc29 \ub9ac\uc2a4\ud06c\ub97c \ud0a4\uc6b0\uace0 \uc788\ub2e4.","og_url":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/","og_site_name":"Cryptonews Korea","article_published_time":"2026-02-04T22:59:40+00:00","og_image":[{"width":1456,"height":816,"url":"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_description":"\ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \uc628\uccb4\uc778 \uc9c0\ud45c, \uae30\uad00 \uc218\uc694 \ub454\ud654, \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uc720\ub3d9\uc131 \ucd95\uc18c\ub97c \uadfc\uac70\ub85c \ube44\ud2b8\ucf54\uc778\uc774 \ub2e4\uc2dc \uc57d\uc138\uc7a5 \uad6d\uba74\uc5d0 \uc9c4\uc785\ud560 \uac00\ub2a5\uc131\uc744 \uacbd\uace0\ud588\ub2e4. ETF \uc790\uae08 \ud750\ub984\uacfc \uae30\uc220\uc801 \ubd95\uad34 \uc2e0\ud638\uac00 \ud558\ubc29 \ub9ac\uc2a4\ud06c\ub97c \ud0a4\uc6b0\uace0 \uc788\ub2e4.","twitter_image":"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1.jpg","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/#article","isPartOf":{"@id":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/"},"author":{"name":"minjikim","@id":"https:\/\/cryptonews.com\/kr\/#\/schema\/person\/796594ddd6b20d9744f5cb1f68eb8d4d"},"headline":"\ud06c\ub9bd\ud1a0\ud000\ud2b8 \u201c\ube44\ud2b8\ucf54\uc778, \uc57d\uc138\uc7a5 \uc9c4\uc785 \uc2e0\ud638\u2026 \uae30\uad00 \uc218\uc694 \ub454\ud654\u201d","datePublished":"2026-02-04T22:59:40+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/"},"wordCount":54,"publisher":{"@id":"https:\/\/cryptonews.com\/kr\/#organization"},"image":{"@id":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/#primaryimage"},"thumbnailUrl":"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1.jpg","articleSection":["News"],"inLanguage":"ko-KR","copyrightYear":"2026","copyrightHolder":{"@id":"https:\/\/cryptonews.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/","url":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/","name":"\ud06c\ub9bd\ud1a0\ud000\ud2b8 \u201c\ube44\ud2b8\ucf54\uc778, \uc57d\uc138\uc7a5 \uc9c4\uc785 \uc2e0\ud638\u2026 \uae30\uad00 \uc218\uc694 \ub454\ud654\u201d","isPartOf":{"@id":"https:\/\/cryptonews.com\/kr\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/#primaryimage"},"image":{"@id":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/#primaryimage"},"thumbnailUrl":"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1.jpg","datePublished":"2026-02-04T22:59:40+00:00","description":"\ud06c\ub9bd\ud1a0\ud000\ud2b8\ub294 \uc628\uccb4\uc778 \uc9c0\ud45c, \uae30\uad00 \uc218\uc694 \ub454\ud654, \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uc720\ub3d9\uc131 \ucd95\uc18c\ub97c \uadfc\uac70\ub85c \ube44\ud2b8\ucf54\uc778\uc774 \ub2e4\uc2dc \uc57d\uc138\uc7a5 \uad6d\uba74\uc5d0 \uc9c4\uc785\ud560 \uac00\ub2a5\uc131\uc744 \uacbd\uace0\ud588\ub2e4. ETF \uc790\uae08 \ud750\ub984\uacfc \uae30\uc220\uc801 \ubd95\uad34 \uc2e0\ud638\uac00 \ud558\ubc29 \ub9ac\uc2a4\ud06c\ub97c \ud0a4\uc6b0\uace0 \uc788\ub2e4.","breadcrumb":{"@id":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/#breadcrumb"},"inLanguage":"ko-KR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/"]}],"author":[]},{"@type":"ImageObject","inLanguage":"ko-KR","@id":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/#primaryimage","url":"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1.jpg","contentUrl":"https:\/\/cimg.co\/wp-content\/uploads\/sites\/18\/2026\/02\/05075400\/image-1-1.jpg","width":1456,"height":816,"caption":"\ube44\ud2b8\ucf54\uc778 \uc57d\uc138\uc7a5 \uc9c4\uc785"},{"@type":"BreadcrumbList","@id":"https:\/\/cryptonews.com\/kr\/news\/bitcoin-enters-bear-market-territory-as-institutional-demand-reverses-cryptoquant\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptonews.com\/kr\/"},{"@type":"ListItem","position":2,"name":"\ud06c\ub9bd\ud1a0\ud000\ud2b8 \u201c\ube44\ud2b8\ucf54\uc778, \uc57d\uc138\uc7a5 \uc9c4\uc785 \uc2e0\ud638\u2026 \uae30\uad00 \uc218\uc694 \ub454\ud654\u201d"}]},{"@type":"WebSite","@id":"https:\/\/cryptonews.com\/kr\/#website","url":"https:\/\/cryptonews.com\/kr\/","name":"Cryptonews Korea","description":"","publisher":{"@id":"https:\/\/cryptonews.com\/kr\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptonews.com\/kr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"ko-KR"},{"@type":"Organization","@id":"https:\/\/cryptonews.com\/kr\/#organization","name":"Cryptonews Korea","url":"https:\/\/cryptonews.com\/kr\/","logo":{"@type":"ImageObject","inLanguage":"ko-KR","@id":"https:\/\/cryptonews.com\/kr\/#\/schema\/logo\/image\/","url":"https:\/\/cryptonews.com\/wp-content\/uploads\/sites\/18\/2023\/09\/4.jpg","contentUrl":"https:\/\/cryptonews.com\/wp-content\/uploads\/sites\/18\/2023\/09\/4.jpg","width":1669,"height":874,"caption":"Cryptonews Korea"},"image":{"@id":"https:\/\/cryptonews.com\/kr\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/posts\/207803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/users\/706"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/comments?post=207803"}],"version-history":[{"count":2,"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/posts\/207803\/revisions"}],"predecessor-version":[{"id":207808,"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/posts\/207803\/revisions\/207808"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/media\/207805"}],"wp:attachment":[{"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/media?parent=207803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/categories?post=207803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/tags?post=207803"},{"taxonomy":"editors","embeddable":true,"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/editors?post=207803"},{"taxonomy":"sponsored_companies","embeddable":true,"href":"https:\/\/cryptonews.com\/kr\/wp-json\/wp\/v2\/sponsored_companies?post=207803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}