Bitcoin faces growing concerns about a transition to a bear market. Technical indicators, including the dreaded death cross, are turning against the bulls, and some analysts are already openly claiming that the cryptocurrency’s growth cycle is over. Nevertheless, there are also voices in the market that see the situation as less dramatic.
Analysts warn: Bitcoin is entering a bearish trend
According to a number of analysts, the long-term trend for Bitcoin has broken downwards. A well-known market commentator going by the nickname Crypto₿irb claims that, from a purely technical point of view, the bull market is over. He refers to a combination of signals—a decline in trading volumes, increased volatility, weakened market breadth, and the time Bitcoin spends below its 200-day moving average. He even expects further declines in 2026.
Particular attention was drawn to the so-called death cross, i.e., the moment when the 50-day moving average crosses the 200-day moving average downward. This signal appeared in mid-November and is considered one of the strongest bearish indicators among traders. Moving averages often act as long-term price support, and their disruption indicates that bears are taking control of the market.
Bitcoin at a crossroads
There are also a growing number of analysts who are openly negative about market developments. Markus Thielen of 10x Research describes the current situation as a clear bear market. According to him, the current gains represent only a corrective rally in a downward trend. However, some experts remain cautiously optimistic. Henrik Andersson of Apollo Capital acknowledges weaker buying pressure but does not see it as automatic confirmation of a bearish period. In his view, the overall performance of risk assets, not just the Bitcoin cryptocurrency itself, will be decisive.
Short-term optimism comes from analyst Skew, who sees a more constructive development for Bitcoin on the four-hour chart. If buyers maintain momentum, there could be an upward reversal. The key area remains the $90,000 to $92,000 range. According to analysts, this is where the next direction of the market will be decided, while a drop below $88,000 would mean the failure of the bulls’ efforts to return to growth.
