This Indicator Suggests We’re Out Of The Bitcoin Bull Market

Bitcoin's 200-day trend has turned bearish, which could suggest the bull market is over, but some analysts don’t think we’re there yet.

A long-term technical trend indicator for Bitcoin has turned bearish, leading at least one analyst to believe that the bull market may be over.

“From a technical standpoint, the bull market is over,” crypto analyst “Crypto₿irb” told his 700,000 X followers on Thursday.

Bitcoin (BTC) exhibits a “persistent trend shift, confirmed by price percentage traveled, volume spikes, above-average volatility, time spent below the 200-day trend, and worsened breadth,” he said as he predicted 2026 to be a year of declines.

The analysis highlighted a downturn in the 200-day trend, a visual tool analysts use to connect specific points and gauge trend strength or breakouts.

Additionally, the 200-day moving average, a different indicator that shows the mathematical average price of BTC over the past 200 days, turned downward in mid-November when a “death cross” occurred as it dipped below the shorter-term 50-day moving average.

These indicators are closely watched as a long-term support level and signals for bull and bear markets.

“There is no debate, Bitcoin is in a bear market,” Markus Thielen from 10x Research told Cointelegraph. He added that we are currently in “a bear market reversal rally.”

Related: Bitcoin risks deeper drop if whale exchange deposits stay high: Analyst

However, Henrik Andersson, chief investment officer of crypto asset fund manager Apollo Capital, told Cointelegraph that the buying pressure from digital asset treasuries (DATs) that we saw in H1 of this year is behind us, but it “doesn’t mean we are in a bear market.”

Source: CoinTelegraph