Bitcoin Bear Market Could Be Shrinking, But Are We Watching History Repeating...
Bitcoin has fallen back below $70,000 as selling pressure continues to dominate among crypto traders. Notably, there is currently little sign of strong buying demand that could stop further downside and the current structure still leaves room for a Bitcoin price drop below $60,000. Interestingly, technical analysis shows that the Bitcoin price action is beginning to resemble the pattern it created during the 2022 bear market, with long-term data showing that Bitcoin’s bear cycles have gradually become less severe over time. Related Reading: Stablecoin Market Breaks Records — USDC Controls....
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A crypto analyst argues that Bitcoin (BTC) price history reveals a consistent macro cycle pattern characterized by long bull markets followed by shorter bear markets. This repeating structure has appeared across multiple market cycles and is now being used to frame expectations for Bitcoin’s current and future price movements. Bitcoin Macro Cycles Reveal Recurrent Pattern […]
Bitcoin price is currently trading at around $23,500 at the time of this writing, up over 30% from lows and 10% for the week. The recovery has brought the weekly RSI out of oversold territory after reaching historical levels. Here is why the setup could be the buy signal bulls have been waiting for, and how the Relative Strength Index currently resembles the last bear market bottom. Weekly Bitcoin RSI Recovers From Historical Oversold Conditions In technical analysis, sometimes less is more. Traders commonly fill a chart with lines or indicators, desperately seeking an edge in the market.....
Recent on-chain analysis by Glassnode has shown that the current Bitcoin bear cycle is playing out as the worst one in history. Several factors have contributed to making the current crypto bear market the worst ever recorded as most Bitcoin (BTC) traders are underwater and continue to sell at a loss, according to Glassnode.Blockchain analysis firm Glassnode’s Saturday report titled “A Bear of Historic Proportions” outlines how Bitcoin’s current dip below the 200-day moving average (MA), negative deviation from realized price and net realized losses have conspired to make 2022 the worst in....