Bitcoin, the largest cryptocurrency, dropped below its 200-day moving average recently.
Li also noted that the 200-day moving average is an important trader demon for both long and short positions.
Recently, Bitcoin faced significant obstacles. Regulatory scrutiny, geopolitical tensions, and a plummet in the U.S.
This means that in March 2025, Bitcoin is below the vital $83,500 barrier, the 200-day MA.
Bitcoin has been falling and investors are getting a bit jaded. Many are reassessing their portfolios and moving into safe assets.
Bitcoin's decline reflects broader economic uncertainty. Policymakers monitor these trends keenly, considering regulatory adaptations to stabilize the market.
The $85,000 mark is key for Bitcoin to retrace for a potential recovery.
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