Bitcoin Is Down 35% In 6 Weeks, But The Next Rally Decides If It’s ‘Over’ Or Not

Bitcoin’s (CRYPTO: BTC) 35% pullback has triggered widespread calls for a new bear market. Yet, a prominent analyst maintains that a single yet-to-happen event will determine the true direction of the cycle.

What Happened: In his latest podcast, analyst Kevin argues that Bitcoin’s fate hinges on one catalyst: a counter-trend rally that still hasn’t formed. He outlines why sentiment has flipped sharply bearish:

• Bitcoin lost the 2-day 200 EMA/SMA and the 50-week SMA
• Price broke below the critical $98,000–$106,800 zone, a region loaded …

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