Bitcoin is trading below key technical and onchain valuation levels, with historical bear market patterns suggesting a potential bottom closer to $45,000. Bitcoin remains below major resistance levels, including the True Mean Price, 200 Day Moving Average, 128 Day Moving Average, and the Short Term Holder Cost Basis, highlighting continued market weakness. Historical bear market cycles have seen bitcoin bottom 5-10% below major onchain valuation metrics, pointing to a potential downside target…
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