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 (BTC) 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.” Read more
Bitcoin accumulators bought 375,000 BTC in just 30 days, with the dip below $100,000 boosting their holdings by 50,000 BTC on Tuesday, new data confirmed. Key points: Bitcoin accumulator addresses grab 375,000 BTC in a month in a new record. Accumulators added 50,000 BTC as price slipped under $100,000 for the first time in months. Read more