According to CoinEdition, Bitcoin has lost its Bull Market Support Band, a key technical level that had supported price action throughout the current cycle. Analysts warn that a break below the 730-day simple moving average at $81,250 could confirm bear market conditions. Bitcoin has dropped 8.5% over the past seven days, 18% over 14 days, and 21.8% over 30 days. Daan Crypto Trades notes a $20,000 gap now exists between the current price and the support band. Rekt Capital highlights that a weekly close above $86,000 could push Bitcoin toward $93,000, but a rejection at that level may lead to a consolidation range.
Bitcoin Loses Bull Market Support Band, Analysts Watch $81K Bear Market Threshold
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