Bitcoin has fallen below its 200-day moving average (MA) for the second time this year. This development has stirred concerns in the crypto community about Bitcoin’s realized price potentially dropping to $31,000.
The 200-day MA is a critical indicator used by traders to assess the long-term trend of an asset. A drop below this level can often signal a bearish trend.
It remains to be seen whether Bitcoin will stabilize or continue to decline, with market participants cautious about upcoming price movements.
