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Bitcoin’s long-term forecast just turned stormy. A key technical indicator flashed red, prompting one analyst to declare: Is the Bitcoin bull run officially iced?
“From a technical standpoint, the bull market is over,” crypto analyst “Crypto₿irb” told his 700,000 X followers on Thursday.
Bitcoin’s compass points to a chilling 2026. A confluence of ominous signs price slippage, volume eruptions, heightened volatility, extended stays in the 200-day trend’s shadow, and market participation erosion suggest a significant downturn is brewing on the horizon. Buckle up; the data whispers of a rough ride ahead.
The 200-day moving average just took a nosedive. Is this a blip or the beginning of a bear market? Analysts use this crucial indicator to connect the dots, spot emerging trends, and predict potential breakouts, but its recent plunge raises serious questions about market stability.
A chilling signal emerged in mid-November: Bitcoin’s 200-day moving average – Wall Street’s yardstick for long-term price trends – buckled. This vital line, representing the average BTC price over the prior 200 days, abruptly reversed course, dragged down by a dreaded “death cross.” The shorter-term 50-day moving average plunged below it, hinting at further market turbulence ahead.
These indicators are closely watched as a long-term support level and signals for bull and bear markets.
Bitcoin technical indicators are looking increasingly bearish. Source: Crypto₿irb
Bitcoin bear market calls are increasing
Markus Thielen of 10x Research pulls no punches: Bitcoin’s not just down, it’s hibernating. But, he adds with a twist, this bear might be stirring from its slumber, fueling what he calls a “bear market reversal rally.” Is it a head fake, or the real deal?
Related: Bitcoin risks deeper drop if whale exchange deposits stay high: Analyst
Apollo Capital’s chief investment officer, Henrik Andersson, sees a shift in the crypto winds. Speaking to Cointelegraph, Andersson noted that the surge in digital asset treasury (DAT) buying, which fueled the first half of the year, has subsided. However, dismissing bear market whispers, he suggests the crypto landscape is simply evolving.
The market’s compass now spins wildly, guided by the unpredictable winds of risk. Success hinges not on broad strokes, but on laser-focused precision. Choose wisely, for in this new landscape, selectivity is your sharpest weapon.
Short-term relief for the Bitcoin bulls
Crypto analyst Skew spotted a bullish resurgence on Thursday, declaring a “constructive” outlook based on a four-hour chart analysis – signaling potential upward momentum.
“Momentum is toward the upside if buyers and the market can muster strength from here.”
Failing to hold $88,000 spells trouble – a clear sign the bullish rally has stalled. Keep a close watch as bulls and bears clash in the $90,000-$92,000 zone; this is the initial battleground to determine the market’s true underlying trend.
Bitcoin Briefly Touched $92,000 on Coinbase, Then Reality Bit.
Magazine: Bitcoin $200K soon or 2029? Scott Bessent hangs at Bitcoin bar: Hodler’s Digest
Thanks for reading This indicator suggests we’re out of the Bitcoin bull market
