Bitcoin's Decline, A Defensive Stance in the Market

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Bitcoin Demand Is Decreasing

Bitcoin market structure is weakening. Recently, with the decrease in demand, Bitcoin rallies are expected to remain below the 365-day moving average level. Short-term Bitcoin investors are quickly writing off losses, while derivative markets have gone into risk-off mode. This situation potentially indicates a downtrend.

Market Situation

Currently, Bitcoin is trading at around $92,000. Meanwhile, Ethereum is at $3,038. Both assets reflect a broader defensive market tone.

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Bitcoin, Ethereum, market situation, derivative markets, downtrend.