Bitcoin Fails to Break $82,400 Resistance, CryptoQuant Warns of 2022-Style Bear Trap

BTC-0.36%
According to CryptoQuant research head Julio Moreno, Bitcoin recently failed to clear its 200-day moving average near US$82,400 after rebounding about 37% from US$60,000 in February, currently trading near US$77,800. The analyst warned the pattern mirrors the 2022 bear market, when the same moving average acted as a major ceiling before the downtrend resumed. CryptoQuant data also showed open interest on major crypto exchanges fell by nearly US$1.25 billion, signaling weakening futures momentum that could leave the rebound vulnerable to further pullback.
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