CoinDesk••1 min read
Bitcoin Bear Trend Intensifies: 75% of Top Cryptos Below Key Averages
The cryptocurrency market is experiencing increased bearish pressure, Bitcoin is trading lower. According to reports, 75 out of the top 100 cryptocurrencies are trading below their 50-day and 200-day Simple Moving Averages (SMAs). This indicates a broad-based downturn affecting a significant portion of the digital asset market. While the cryptocurrency market faces headwinds, other markets such as the Nasdaq are showing resilience.
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