Bitcoin price has fallen below the 365-day moving average

Jinse Finance reported that CryptoQuant.com posted on the X platform stating that the price of bitcoin has fallen below its 365-day moving average ($102,000), which is a key technical and psychological support level. The last time it broke below this level was at the beginning of the 2022 bear market. If the price fails to reclaim this moving average, data shows that the next support level may be around $7,200, which is close to the traders' lowest realized price range.