‘Not all 200-day moving averages are equal’: K33 argues February’s $60K low still marks cycle’s maximum drawdown

60-second summary

Bitcoin struggles to regain momentum after revisiting its 200-day moving average around $82,000, but K33 argues that the cycle's maximum drawdown is still at February's $60,000 low, suggesting a potential for further recovery. This perspective implies that a potential bottom is already in place, with implications for investors considering long positions. Market sentiment remains uncertain.