A recent long-term technical trend indicator suggests that Bitcoin may have exited its bull market phase. Analysts are interpreting this shift as a possible sign of a downturn, with predictions that 2026 could see declines.

Key Takeaways

A long-term technical trend indicator for Bitcoin has turned bearish, heightening concerns that the bull market may be ending.
Key indicators include a downward shift in the 200-day trend and the "death cross" occurring with the 50-day moving average.
Calls for a bear market are increasing, although some analysts believe it is premature to declare an official bear market.
Despite bearish trends, short-term indicators show potential for bullish activity as Bitcoin approaches critical price levels.

A long-term technical indicator for Bitcoin has signaled a bearish trend, leading at least one analyst to suggest that the bull market could be over. Crypto analyst "Crypto₿irb," who has a following of 700,000 on X, stated, “From a technical standpoint, the bull market is over.” He noted signs of a “persistent trend shift,” marked by price percentages, volume spikes, and increased volatility, along with time spent below the 200-day trend line.

The analysis draws attention to a downturn in the 200-day trend, which analysts often use to connect specific points and assess trend strength or potential breakouts. Also, the 200-day moving average, which represents the average price of Bitcoin (BTC) over the past 200 days, turned downward in mid-November following a "death cross" event, where it fell below the 50-day moving average. These indicators serve as crucial long-term support levels and are key signals for determining bull and bear markets.

Bitcoin technical indicators are looking increasingly bearish. Source: Crypto₿irb

This indicator suggests we’re out of the Bitcoin bull market

Increased Bear Market Predictions

Markus Thielen from 10x Research stated to Cointelegraph, “There is no debate, Bitcoin is in a bear market.” He further described the current situation as a “bear market reversal rally.” However, Henrik Andersson, chief investment officer at Apollo Capital, noted that while the buying pressure from digital asset treasuries experienced earlier this year has faded, it does not necessarily confirm that we are currently in a bear market.

Potential Short-Term Relief for Bitcoin Bulls

On a more optimistic note, crypto analyst “Skew” mentioned that, from a four-hour chart perspective, conditions appear to be “looking a lot more constructive for the bulls.” Skew warned that falling below the $88,000 mark would indicate weakness and a failed attempt to maintain upward momentum. The critical resistance levels to watch lie between $90,000 and $92,000, which signify an important battleground for market dynamics.

During early trading on Thursday morning, Bitcoin nearly reached $92,000 on Coinbase before retreating to around $91,200 at the time of publication.