Bitcoin’s recent price rebound may be echoing a familiar pattern from the 2022 bear market, despite gains of more than 20%, according to new research from on-chain analytics firm CryptoQuant.
In its latest weekly report, CryptoQuant said Bitcoin has risen about 21% since late November, climbing from lows near $80,500 to around $95,000. However, the firm warned that the move resembles a «bear market rally» rather than the start of a sustained recovery.
Analysts pointed to Bitcoin’s failure to reclaim its 365-day moving average, currently near $101,000, as a key risk factor. In previous cycles, including 2022, BTC...