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Bitcoin struggles near $82K 200-day average, but recovery differs from past bear rallies, says K33.

Market News
20 May 2026
Crypto news
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Neutral
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Bitcoin has faced renewed selling pressure after failing to hold near its 200-day moving average around $82,000 in May. However, K33 research highlights that this recovery is unlike previous bear-market rallies due to weaker leverage and bearish derivatives positioning. Institutional investors have reduced Bitcoin holdings while retail investors increased theirs, and ETF outflows suggest cautious, defensive trading near the average cost basis. K33 maintains that the February low near $60,000 remains the likely bottom for this cycle, expecting a moderate bear market in 2026 following a less aggressive bull run in 2025.

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