"Bitcoin (BTC) breaks below the 365-day moving average…signal of entering a bear market"

Analysis has suggested that Bitcoin (BTC) has fallen below a major technical support level and entered a bearish phase. CryptoQuant's chief analyst Julio Moreno assessed that if Bitcoin falls below the annual (365-day) moving average, recovery would not be easy.

On the 14th (local time), Moreno said on his official X (formerly Twitter), "Bitcoin has moved below the 365-day moving average, and historically this has been a zone from which recovery is very difficult." He emphasized, "For the current situation to reverse, demand, investor sentiment, and capital flows must be completely reversed."

Moreno also provided specific levels for the potential decline. He explained, "The first downside target is $92,000, and the next support zone is $72,000." He added, "If on-chain indicators clearly improve, I will revise my view."

Bitcoin's volatility has increased recently due to global risk-asset adjustments and an expansion of large-scale selling by long-term holders. Technical analysts say whether $110,000 is regained will be a key factor in a medium-term trend reversal.