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Bitcoin Stalls at $81.7K as Bull Market Confirmation Eludes Cryptocurrency

Guavy AI Editorial Team
Instruments
BTC
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Bitcoin is facing significant resistance at $81.7K as it attempts to confirm a new bull market.

The top cryptocurrency's 365-day moving average currently stands at this level, which has historically been a crucial indicator for bullish trends.

CryptoQuant reported that Bitcoin's bull markets have begun when the price closes above this average, while the 200-day moving average at $70,000 remains a key technical support.

Bitcoin's recent rally pushed it towards the 365-day moving average, but it stalled and acted as resistance, with a decisive break above it needed to confirm the new bull market.

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