CryptoQuant: Bear Market May Have Begun, Mid-Term Support Expected at $70,000

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Bitcoin has fallen below its 365-day moving average, a key support level marking the potential start of a bear market. CryptoQuant notes that demand has slowed since early October 2025, with ETFs turning net sellers and funding rates hitting a low not seen since late 2023. Institutional and large holder demand is now contracting, signaling a shift in support & resistance dynamics. Historical data suggests a mid-term support level around $70,000 may hold.
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