Tag: whale accumulation challenges bearish signals

Has Bitcoin Stepped Into a Bear Market? Analysts Split

The post Has Bitcoin Stepped Into a Bear Market? Analysts Split appeared com. Bitcoin has been below its 365-day moving average at $102,000 since last Friday, igniting debate among analysts about a possible bear market. The Fear & Greed Index has tumbled to 10, matching panic levels last seen in early and mid-2022. By Thursday, over $700 billion had vanished from the market in the past month. Despite heightened fear and key technical breakdowns, mixed signals from macro trends and whale activity keep experts split on crypto’s immediate direction. Sponsored Sponsored Technical Breakdown Raises Bear Market Fears Bitcoin’s second drop below $100,000 in one week triggered alarms. It now trades under the 365-day moving average, a level that marked regime changes in the 2018 and 2021 bear markets. Detailed analysis shows this indicator effectively separates bullish and bearish phases across cycles. The decline is not limited to price. On-chain data shows Bitcoin below the realized price for coins held 6-12 months at $94,600. This is the cost basis for so-called “bull-cycle conviction buyers.” If the price stays below this level, many investors will incur losses, which can increase selling pressure. Bitcoin perpetual futures saw their largest weekly jump in open interest since April, surging over $3. 3 billion. Many traders had set limit orders to buy the dip as Bitcoin fell below $98,000. However, prices continued dropping, triggering these orders and creating leveraged exposure in a declining market. Veteran trader Peter Brandt has heightened concern with his technical analysis. Brandt highlighted a sweeping reversal on November 11, followed by eight days of lower highs and a broadening top pattern. His downside projections are $81,000 and $58,000. Does a sweeping reversal ((Nov 11) followed by 8 days of lower highs and the completion of a massive broadening top qualify as a bear market? Targets implied are 81k and 58kThose who now claim they will be big.