Bitcoin Rallies to $82,400 Then Falls to $76,000, Mirroring 2022 Bear Market as Sentiment Turns Extremely Bearish

BTC0.72%
According to CryptoQuant's head of research Julio Moreno in a Wednesday report, Bitcoin's recent rally hit resistance at the 200-day moving average near $82,400 before falling back to $76,000. The move directly mirrors what happened in March 2022, when Bitcoin rallied 43% from its lows before hitting the same technical level and resuming its downtrend. Bitcoin has risen around 37% from its April 2026 lows before facing similar resistance. CryptoQuant's Bull Score Index has dropped from 40 to 20, classified as "extremely bearish" territory—matching readings from February-March 2026 when Bitcoin declined to $60,000-$66,000. Historically, readings in this range have been followed by either further price declines or extended sideways compression. Bitcoin is currently trading around $77,320.
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