‘Not all 200-day moving averages are equal’: K33 argues February’s $60K low still marks cycle’s maximum drawdown
The Block
Research firm K33 suggests February’s $60,000 Bitcoin low remains the cycle’s floor, citing a lack of typical market leverage despite recent price volatility.Summary
Analysts at K33 argue that Bitcoin’s current market behavior differs significantly from previous bearish cycles. While recent retests of the 200-day moving average have sparked concerns of a potential downward trend, the firm notes that the current "slow grind" lacks the rapid leverage build-up seen in past cycles. K33 maintains that February’s $60,000 level remains the maximum drawdown for the current cycle, supported by data showing institutional caution and retail accumulation.
(Source：The Block)