8
Bitcoin (BTC) closed its weekly candle at $76,931 on Sunday, causing BTC to lose its 100-week moving average for the first time since October 2023. Analysts are now weighing whether the move marks the early stages of a bear market and what this shift may mean for Bitcoin’s recovery in the long term.
Key takeaways:
-
Bitcoin closed a weekly candle below the 100-week simple moving average, a trend linked with multi-month drawdowns.
-
Past bearish breakouts below the weekly trend lasted between 182 and 532…
