BTC is back above $85,000, up from under $76,000 just a week ago. So, is the bear market over?
The case for yes: this happened in September, historically one of Bitcoin's weakest months, negative in nine of the past 15 years. The Fed hiked, the Bank of Japan hiked, and BTC kept climbing anyway. ETFs are back behind it too, with $433M in net inflows on September 18 alone. Total market cap sits at $2.80T, Fear & Greed at 72.
The case for not yet: daily RSI is at 71, hourly above 84, deep overbought. Resistance sits near $86,500, and rallies this stretched rarely stay this steep. One strong week doesn't make a new cycle.
Bear market over, or just a relief rally with good timing?