Multiple charts and historical data suggest Bitcoin’s recovery from its weekend crash below $75,000 could take several months, rather than producing a quick rebound.
Bitcoin (BTC) closed its weekly candle at $76,931 on Sunday, causing BTC to lose its 100-week moving average for the first time since October 2023. Analysts are now weighing whether the move marks the early stages of a bear market and what this shift may mean for Bitcoin’s recovery in the long term.
Key takeaways:
Bitcoin closed a weekly candle below the 100-week simple moving average, a trend linked with multi-month drawdowns.
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