Opinion: Bitcoin has been below its 100-week moving average for 13 consecutive days, while the historical average is 267 days.

According to ME News, on February 9th (UTC+8), Coin Bureau CEO Nic stated that Bitcoin has closed below its 100-week moving average for the third consecutive week. Currently, the price has been below its long-term trend line for 13 consecutive days. Historically, after BTC breaks below its long-term trend line, it stays below that level for an average of 267 days. The shortest period was 34 days during the COVID-19 pandemic. Therefore, based on historical experience, the market is more likely to remain at low levels for a longer period. A rapid rebound is still possible, but the longer Bitcoin stays at low levels, the less likely this is to happen. (Source: ME)