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Gate Square New & Returning Creator Rewards are ongoing!
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$Bitcoin The network is cooling down.
On-chain data confirms that Bitcoin is still in a bear market phase, with the 30-day moving average below the 365-day moving average. Network activity continues to slow down, indicating a decrease in speculation.
Key Trends (7D SMA):
Trading: Decline → Less speculative actions
Cost: Lower → Less congestion and weaker demand
Active address count: Decrease → Large players exit
This setup is very similar to the bear market of 2018, but today's network is more resilient due to a larger user base.