Bitcoin recently surged to $58,000, but analysts urge caution. Despite the price increase, key indicators show that Bitcoin remains in a bearish phase. Julio Moreno, from CryptoQuant, highlights the decoupling of Bitcoin from gold and notes bearish signs, such as the MVRV ratio falling below its 365-day average and long-term holders (LTH) spending at lower profit margins. This signals potential further price corrections, as similar patterns occurred during past downturns. Traders should remain vigilant as market conditions develop.
