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Bitcoin May Have Already Begun Its Bear Market Phase, Says CryptoQuant's Lead Researcher
CryptoQuant’s research chief Julio Moreno recently presented a thought-provoking analysis, indicating that Bitcoin’s bear market cycle may have started approximately two months prior. Drawing from technical indicators including the one-year moving average, Moreno’s research provides a compelling case for this thesis.
The current landscape paints an interesting picture. Bitcoin is trading around $91.27K, while data shows the asset has declined roughly 7.06% over the past year, reflecting the pressure Moreno identified in his analysis.
According to Moreno’s projections, if the bear market continues to unfold, the potential bottom could materialize somewhere within the $56,000 to $60,000 range over the coming year. This prediction takes into account Bitcoin’s present valuation alongside its historical price cycles and movement patterns.
The analysis raises important questions for BTC holders and market participants. Whether this thesis proves accurate will depend on how Bitcoin navigates the technical levels ahead and whether the broader market structure confirms the indicators Moreno has highlighted.