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Bitcoin sees first downward difficulty move in 5 months amid 'uncertainty' over hodler spending
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Bitcoin (BTC) is in a tight battle between bulls and bears and the network is now reacting, data shows.
Trackers reveal that this week, Bitcoin difficulty snapped an 18-week green streak to post its first decrease since July.
Amid cyclical short-term price action, concern remains that Bitcoin is not done retracing from its latest $69,000 all-time highs.
Having surprised analysts and even rejected one lifelong price model, BTC/USD over the past month feels like uncharted territory — despite roughly doubling year to date.
“With Bitcoin now over 20% below the all-time-high, headlines in traditional media have declared that Bitcoin has entered a bear market,” on-chain analytics firm Glassnode summarized in its latest weekly newsletter, "The Week
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