Bitcoin at Risk: Is a Bear Market Brewing with 5% SMA Close?

Bitcoin is clinging to critical levels, just above the 730-day Simple Moving Average (SMA) – a historical marker for bear market starts. The recent chart shared by analyst Ali Martinez on X highlights this threshold, emphasizing Bitcoin’s proximity to a historic bearish trigger. The price is currently hovering around $85,143.70, just a 5% gain above the SMA’s level of $81,250.86. However, with the 730-day SMA x5 metric at an ambitious $406,254.29, long-term potential remains if the bull case holds.