[CryptoQuant: Bitcoin's trend resembles the 2022 bear market pattern, market sentiment turns 'extremely pessimistic'] According to The Block, CryptoQuant's Head of Research Julio Moreno stated that as market sentiment turns 'extremely pessimistic,' Bitcoin's trend is mirroring the 2022 bear market pattern. On the technical side, Bitcoin's recent rebound faced resistance near the 200-day moving average at $82,400, which is similar to the situation in March 2022—when Bitcoin rebounded 43% from its low, touched the moving average, and resumed its downward trend. Moreno pointed out that during bear markets, the 200-day moving average serves as the dividing line between rebound zones and trend continuation. Failure to break above this line is the strongest technical confirmation of a well-maintained bear market structure. On the demand and liquidity side, Bitcoin demand has turned negative, speculative demand in perpetual futures sharply slowed after breaking $82,000, and spot demand has accelerated its contraction.