Why a $58,000 bitcoin is the key number for crypto investors right now

Historical data show that bitcoin has always found support in bear markets at the 200-week moving average. What to know : In bitcoin bear markets in 2015, 2019 and 2022, the 200-week moving average marked a price bottom, with BTC holding that level or reclaiming it as support. The value currently sits at $57,926. The bitcoin price has dropped through the Ichimoku Cloud, which may indicate further declines are on the cards.