Bitcoin Price Rebounds, But Bear Market May Persist, Says CryptoQuant Analysis

CryptoQuant, an on-chain analysis firm for cryptocurrency, released its weekly market report on the 16th, stating that the recent price rebound of Bitcoin (BTC) appears to be occurring within a bear market.

While the demand situation has not significantly worsened, there has been no substantial change observed either.

Bitcoin has confirmed its entry into a bear market by falling about 19% below its 365-day moving average (MA). However, since November 21st, it has risen approximately 21%.

The 365-day moving average is a line connecting the average prices over the last 365 days, primarily indicating long-term trends...