Bitcoin Falls Below 365-Day Average, Traders Panic

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After dropping under its 365-day moving average price, Bitcoin faces uncertainty as analysts weigh whether it signals a looming bear market or a brief pullback.

Bitcoin fell below $99,000 on Tuesday, breaching a key macro indicator and reigniting debate over the market’s state.

Bitcoin dipped below the 365-day moving average, according to Julio Moreno, head of research at the data analytics platform CryptoQuant.

“It was the final confirmation to the start of the 2022 bear market,” Moreno wrote in a post on X, adding: “The price needs to cross back above it quickly.”

According to Coinbase data, Bitcoin briefly slipped below $99,000 on Tuesday, touching multimonth lows at around $98,900. The price has slightly recovered, with Bitcoin trading at around $101,800 at the time of publication.


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