Bull Or Bear Market? Traders Panic As Bitcoin Dips Below 365-day...

After dropping under its 365-day moving average price, Bitcoin faces uncertainty as analysts weigh whether it signals a looming bear market or a brief pullback.

Bitcoin fell below $99,000 on Tuesday, breaching a key macro indicator and reigniting debate over the market’s state.

Bitcoin (BTC) dipped below the 365-day moving average, according to Julio Moreno, head of research at the data analytics platform CryptoQuant.

“It was the final confirmation to the start of the 2022 bear market,” Moreno wrote in a post on X, adding: “The price needs to cross back above it quickly.”

According to Coinbase data, Bitcoin briefly slipped below $99,000 on Tuesday, touching multimonth lows at around $98,900. The price has slightly recovered, with Bitcoin trading at around $101,800 at the time of publication.

Bitcoin’s 365-day MA is a technical indicator tracking BTC average price data over the past year to identify the market’s trend direction.

According to market observers, the metric is among the most important moving averages for gauging Bitcoin sentiment. When the BTC price falls below it, it is widely viewed as a strong bearish signal.

Bitcoin’s latest slip below the 365-day MA has not been the first this year. According to data shared by crypto analyst Decode, BTC price briefly dropped below the metric in April.

Bitcoin’s Tuesday dip has “officially marked a technical bear market” as BTC price dropped more than 20% from its all-time highs above $126,000 in early October, Bitrue research analyst Andri Fauzan Adziima told Cointelegraph.

“Yet this is merely the fourth correction in the 2025 bull cycle, a routine cleanse, not the onset of a prolonged winter,” Adziima noted, pointing to historical data supporting 40% rebounds within 60 days after 20% drawdowns in a bull market.

Source: CoinTelegraph