Analysis: Bitcoin Approaches Four-Year SMA Support Level, Possibly in the Final Stage of the Bear Market
PANews, February 15 – According to an analysis model released by CryptoQuant analyst Darkfost, the indicator based on bitcoin's four-year simple moving average (SMA) has entered the bear market range. This indicator measures bitcoin's valuation status using standard deviation and SMA multiples: the higher the multiple, the more overbought the market is; the closer the price is to the four-year SMA, the lower the valuation.
Currently, the price of bitcoin has fallen back to the green zone and is approaching the four-year SMA level, which is currently around $57,500. Historically, this level usually marks the final stage of each bear market, with BTC prices often consolidating in this area for several months. Darkfost stated that he generally does not prefer models based on moving averages, but believes this indicator is worth paying attention to.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Republican Party Proposes Accelerating Legislation to Require AI Data Centers to Pay Their Own Electricity Bills
Republican senators in the United States are considering expediting the legislative process to advance the Ratepayer Protection Act related to data centers ahead of the November elections. The bill aims to require data centers to pay for their own electricity usage and bear the costs of infrastructure upgrades, preventing these costs from being passed on to ordinary households and businesses. The House of Representatives is expected to pass this bipartisan bill with broad support as early as Tuesday.
Report: OpenAI considers a $12 trillion valuation in a pre-IPO funding round
OpenAI is currently engaging with investors for a new round of private fundraising, targeting a valuation of 1.2 trillions dollars, which represents a significant jump from 852 billions dollars in March this year. The report indicates that these discussions were initiated by investors, rather than led by OpenAI itself. Meanwhile, debates over AI safety regulation are intensifying, with Altman strongly supporting industry self-regulation and opposing government-mandated intervention.
Dow Jones Top Markets Headlines at 7 PM ET: U.S. Stocks Down as Oil, Yield Shock Continues | What ...
Besenet: Supports the "$5,000 check" and it will not increase the deficit; Speaker of the House: Implementation of the plan will take time
US Treasury Secretary Janet Yellen stated that there are "ways" to implement the plan without increasing the deficit, but did not disclose specific cost-offset measures. She noted that the Treasury has studied this for "quite some time," and emphasized that "putting more money in Americans' pockets should be everyone's goal." House Speaker Mike Johnson said he had communicated with the President on this issue the previous night, but specific details have not yet been finalized, and it will take some time before the plan is implemented.
Crypto prices
More
