The recent rejection of Bitcoin at its 200-day moving average (MA) has sparked concerns among traders and investors about the potential for an extended bear market.
This development is particularly concerning as it mirrors the market structure seen during the March 2022 downturn, when Bitcoin struggled to break above the 200-day MA before experiencing additional downside pressure.
According to CryptoQuant analysts, repeated rejection at this technical level may indicate insufficient buying strength to reverse the current market trend.