PlanB: BTC Enters Bear Market Zone or Could Drop to $55,000–$58,000, but This Cycle Might Be a Shallow Bear

Odaily News: Crypto analyst PlanB posted on platform X, stating that Bitcoin's price closed at $78,635 in January, down approximately 38% from its all-time high. Currently, Bitcoin's 200-week moving average is around $58,000, and its realized price is about $55,000 and showing a downward trend; simultaneously, the RSI has fallen below 50, entering the "bear market zone" as defined by his model. Historically, Bitcoin has the potential to fall back to its 200-week moving average or realized price during bear market phases. However, he also pointed out that the momentum in this bull market phase has been relatively weak, with no strong top signals appearing, so the subsequent bear market pullback might be relatively limited.