CryptoQuant says bitcoin mirrors 2022 bear market pattern as sentiment turns ‘extremely bearish’
The Block·
60-second summary
Bitcoin's recent rally is mirroring the 2022 bear market pattern, according to CryptoQuant, with a resistance at the 200-day MA near $82,400. This pattern is eerily similar to the March 2022 bear market, sparking concerns among investors. Sentiment has turned extremely bearish, potentially foreshadowing a market downturn, impacting investor confidence and potentially leading to a price correction.
Bitcoin’s recent rally hit resistance at the 200-day MA near $82,400, a pattern CryptoQuant said is similar to the March 2022 bear market.