Is the Bitcoin Bear Market Really Over? 📉➡️📈
Analyst PlanB recently declared the bear market over, targeting $89,000 next. But before jumping on the hype, here’s a quick reality check on what the data actually says:
The Moving Average Debate: PlanB claims BTC reclaimed its 50-week moving average (~$79,000). However, while BTC is above the 50-week EMA ($77,430), it still sits below the 50-week SMA ($81,081). Reclaiming the true baseline is still debatable.
The Positives: Key indicators look healthier—Supply in Profit surged from 50% to 72%, and monthly RSI moved from 41 to 51, shifting momentum back into neutral/bullish territory.
The $82K Supply Wall: Almost 8% of all BTC supply was bought between $80,000–$82,000. Reaching $89,000 requires clearing this massive resistance, where many underwater holders are waiting to sell at breakeven.
Lack of Spot Demand: On-chain data shows institutional buying hasn't confirmed the breakout yet. Spot ETF outflows remain heavy ($450M out on Sep 15), and the Coinbase Premium remains negative.
The Bottom Line: While technical momentum is improving and panic selling seems exhausted, Bitcoin needs strong, sustained spot demand—not just leverage—to clear $82,000 and push toward $89,000. 🚀⚡
#BTC
#crypto #bitcoin #MarketUpdate 🤑
Analyst PlanB recently declared the bear market over, targeting $89,000 next. But before jumping on the hype, here’s a quick reality check on what the data actually says:
The Moving Average Debate: PlanB claims BTC reclaimed its 50-week moving average (~$79,000). However, while BTC is above the 50-week EMA ($77,430), it still sits below the 50-week SMA ($81,081). Reclaiming the true baseline is still debatable.
The Positives: Key indicators look healthier—Supply in Profit surged from 50% to 72%, and monthly RSI moved from 41 to 51, shifting momentum back into neutral/bullish territory.
The $82K Supply Wall: Almost 8% of all BTC supply was bought between $80,000–$82,000. Reaching $89,000 requires clearing this massive resistance, where many underwater holders are waiting to sell at breakeven.
Lack of Spot Demand: On-chain data shows institutional buying hasn't confirmed the breakout yet. Spot ETF outflows remain heavy ($450M out on Sep 15), and the Coinbase Premium remains negative.
The Bottom Line: While technical momentum is improving and panic selling seems exhausted, Bitcoin needs strong, sustained spot demand—not just leverage—to clear $82,000 and push toward $89,000. 🚀⚡
#BTC
#crypto #bitcoin #MarketUpdate 🤑
Right ✅
67%
Wrong ❌
33%
3 投票 • 投票は終了しました