[Analyst: Bitcoin May Take Months to Return to the $100,000 Mark After Flash Crash] According to a report by Jinse Finance, Bitcoin's weekly closing price on Sunday was $76,931, marking its first drop below the 100-week moving average since October 2023. Analysts are currently assessing whether this trend signifies the beginning of a bear market and what this change could mean for Bitcoin's long-term recovery. Key Points: - Bitcoin's weekly closing price fell below the 100-week simple moving average, a trend typically associated with a multi-month retracement. - Historically, after this weekly indicator is breached, the downward cycle lasts between 182 days and 532 days. - A significant amount of spot trading volume occurred in the $85,000 to $95,000 range, which may now turn into a key resistance zone.