Bitcoin has recovered important long-term market indicators, including its 50-week moving average and 365-day MVRV average, suggesting the 2026 market downturn might have ended. The 53% drop from late 2025 to mid-2026 was shallower than previous cycles, and Bitcoin has stayed above its realized price during the decline. However, confirmation of a new bull market depends on maintaining these support levels, with analysts noting that a sustained drop below $78,800 could weaken the bullish outlook. The market's next phase remains uncertain, with ongoing monitoring needed to see if the recovery holds.
Bitcoin's recovery is noted alongside a market breadth where 30 of 50 major cryptocurrencies on Pluang rose today. For readers following crypto markets, here is Pluang's snapshot as of Oct 12, 2026 19:42 WIB: EOS gained 8.13% to Rp12.649 with a typical hold time of 87 days, Algorand rose 8.06% to Rp2.280 with a 42% sell and 58% buy order split, and Tezos increased 7.49% to Rp5.742 with all buy orders and a typical hold time of 100 days.
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