LD Capital founder says Bitcoin bear market has officially ended

Jack Yi, founder of LD Capital, said on X that BTC had broken decisively above its 120-day and 200-day moving averages on the daily chart and had also moved above its 20-week moving average on the weekly chart, leading Yi to conclude the bear market trend has officially ended. Yi added that the uptrend was likely to continue for the next two weeks before a pullback at some point, although the correction would likely be less than 50% of the previous advance. Yi also said the drop from $126,000 to $57,000, a decline of 56%, marked the absolute bottom, making a return to the $50,000 range unlikely, and advised traders to close leveraged long positions.