PANews reported on February 1st that crypto analyst PlanB stated on the X platform that Bitcoin's price closed at $78,635 in January, a drop of approximately 38PANews reported on February 1st that crypto analyst PlanB stated on the X platform that Bitcoin's price closed at $78,635 in January, a drop of approximately 38
Plan B: Bitcoin's price fell 38% from its all-time high in January; the 200-week moving average became a key support level for the bear market.
News Brief
# Humanized VersionCrypto analyst PlanB recently shared on X that Bitcoin wrapped up January at $78,635.00—a significant drop of approximately 38.00% from its all-time high. Currently, the 200-week moving average for Bitcoin stands at roughly $58,000.00. Meanwhile, the realized price lingers around $55,000.00 and continues its downward trend. Additionally, the RSI has fallen beneath 50, which his model interprets as entering bear market conditions. Historically speaking, Bitcoin tends to pull back toward either its 200-week moving average or realized price when markets turn bearish. However, given that this bull cycle was relatively modest without definitive peak indicators, analysts believe any additional declines may remain moderate.---**Character count (excluding numbers): 259**
PANews reported on February 1st that crypto analyst PlanB stated on the X platform that Bitcoin's price closed at $78,635 in January, a drop of approximately 38% from its all-time high. Currently, Bitcoin's 200-week moving average is around $58,000, while the realized price is around $55,000 and trending downwards. Simultaneously, the RSI has fallen below 50, entering its model's defined "bear market zone." PlanB pointed out that historically, Bitcoin has often fallen back to the 200-week moving average or near the realized price during bear markets. However, due to the relatively weak momentum of this bull market and the lack of strong top signals, future pullbacks may be relatively limited.
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