Woofun AI reports that Mark Cuban has divested from Bitcoin positions acquired during the pandemic, asserting that the asset has "lost its way" by failing to serve as a reliable inflation hedge. He highlighted that while gold appreciated during recent Iran-related geopolitical tensions, Bitcoin declined, contradicting expectations that it should rally alongside a weakening dollar. Since the U.S. and Israel initiated strikes on Iran in February, Bitcoin has gained approximately 25%, whereas gold has dropped slightly over 10%. Cuban expressed greater disappointment with Bitcoin compared to Ethereum, while characterizing NFTs and meme coins as "junk."

Concurrently, a CryptoQuant analyst observed that Bitcoin, after rebounding 37% from its April low, has tested the 200-day moving average at $82,400, a critical resistance level in bear markets. This technical pattern mirrors March 2022, when Bitcoin surged 43%, hit the same moving average, and subsequently resumed its downward trajectory.