Bitcoin Breaks Historical Barrier, Signaling Potential Bear Market

Bitcoin has recently crossed below its 365-day moving average on the daily chart, a notable event that bears a resemblance to past bear market signals. This action is being closely observed by crypto analysts, with veteran expert Julio Moreno highlighting this shift as a potential sign of a larger downturn for Bitcoin. Moreno’s prediction stems from the historical significance of this indicator – a similar breach of the 365-day MA occurred in 2022, marking the beginning of significant price drops and a prolonged recovery period for the cryptocurrency.