Bitcoin Is Trading 40% Beneath Its 200-Day MA — What’s Next?

2 hours ago

Recent on-chain data shows that the Bitcoin price

Bitcoin Is Trading 40% Beneath Its 200-Day MA — What’s Next?

Bitcoin Is Trading 40% Beneath Its 200-Day MA — What’s Next?

Recent on-chain data shows that the Bitcoin price is currently at an important phase, raising suspicions as to whether the market is nearing a cyclical bottom. 

Source: CryptoQuant
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView

Featured image from iStock, chart from TradingView

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