Julio Moreno, lead analyst at CryptoQuant, recently highlighted a concerning trend: Bitcoin (BTC) has dipped below its 365-day moving average. This event, as Moreno pointed out on X, mirrors a similar occurrence in 2022 that preceded a significant bear market. The 365-day moving average is a long-term indicator, and falling below it can suggest weakening bullish momentum. Moreno emphasizes that the immediate response – whether Bitcoin quickly rebounds or continues its decline – is crucial. A sustained period below this average could confirm the beginning of a bearish trend. Investors should closely monitor Bitcoin's price action in the coming days to assess the potential for further downside. This development serves as a critical warning sign for the cryptocurrency market. ```