Bitcoin Price Rebounds, But Bear Market Continues, Says CryptoQuant Analysis

On-chain analysis firm CryptoQuant 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. Although the demand situation has not significantly worsened, there has been no major change either. The situation for Bitcoin has confirmed its entry into a bear market, having fallen 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 of the last 365 days, primarily indicating long-term trends...