Bitcoin’s Drop Below 200-Day Simple Moving Average (SMA) Sparks Market Speculation

According to Odaily, on-chain analyst Ali shared on X that Bitcoin has recently dropped below its 200-day simple moving average (SMA), as per data from Glassnode. Ali’s analysis suggests that in an uptrend, Bitcoin dropping below the 200-day SMA could signal a buying opportunity. However, if Bitcoin remains below this level for an extended period, it could signal the start of a bear market.$BTC #btc #Bitcoin #MarketDownturn