Bitcoin Recovery Masks Bear Market Risks
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Bitcoin's recent price surge to a three-month high has sparked optimism, but analysts warn that profit-taking may accelerate, keeping the asset in a bear market. According to CryptoQuant analyst Julio Moreno, the short-term recovery does not negate the broader downtrend. On-chain data suggests that long-term holders are beginning to distribute their coins, which could add selling pressure. While the price action appears bullish, the underlying metrics indicate caution. Traders should monitor key support levels and be prepared for potential volatility as the market digests recent gains.
Read full article on CoinTelegraph
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