Why a Top Analyst Thinks Bitcoin Remains Bearish Despite $1,000 Jump

Since trading as low as $6,400 this week, Bitcoin (BTC) has seen a strong price recovery, surging as high as $7,300 late last week as bulls managed to defend key levels. In other words, the leading cryptocurrency jumped by nearly $1,000 from the multi-month bottom, making some believe that bulls are back.
A top analyst, however, has asserted that Bitcoin remains in a clear downtrend, meaning that this latest jump is just a relief rally, not a full-fledged reversal.
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