Bitcoin Rally Lacks Fundamental Momentum
Leading on-chain analytics platform's latest research shows Bitcoin's recent 21% surge hasn't brought significant demand recovery. The current price action shows striking similarities to the 2022 bear market rebound pattern. Analysts note short-term bullish sentiment hasn't translated into sustainable momentum.
Key Moving Average Signals Warning
- 365-day moving average remains critical bull/bear indicator
- Current price still struggling near this key resistance
- Historical data shows failed tests often trigger new sell-offs
Beware of Cycle Misinterpretation
Research director highlights eerily similar market sentiment to 2022 period. Despite bullish narratives, technical indicators and fundamentals continue pointing to ongoing bear market conditions, warning investors about potential renewed downside.