PlanB: Bitcoin's January price fell 38% from its all-time high, with the 200-week moving average becoming a key support in the bear market

PANews, February 1st – Crypto analyst PlanB posted on X, stating that the bitcoin price closed January at $78,635, about 38% below its all-time high. Currently, bitcoin’s 200-week moving average is around $58,000, and the realized price is about $55,000 and trending downward. Meanwhile, the RSI has dropped below 50, entering what his model defines as the “bear market range.” PlanB pointed out that historically, during bear market phases, bitcoin often falls back to the vicinity of the 200-week moving average or the realized price. However, since the momentum of this bull market is relatively weak and there has not yet been a strong top signal, the extent of future pullbacks may be relatively limited.