Bitcoin price strength failed to reclaim a key support zone with traders still expecting the bear market to match previous cycles.
Bitcoin (BTC) began to give back gains at Thursday’s Wall Street open as bulls faced a new resistance headache.
Key points:
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Bitcoin fails to reclaim some recently lost support levels as its $70,000 rebound loses momentum.
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Traders stay highly cautious on BTC price action across short and long time frames.
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Calling the end of the bear market is “probably premature,” analysis says.
BTC price strength fizzles below $70,000
Data from TradingView showed $67,000 coming back into focus as daily losses on BTC/USD passed 1%.
BTC/USD one-hour chart. Source: Cointelegraph/TradingViewThe pair had climbed as high as $70,040 the day prior as buyers launched an assault on two key levels: the 200-week exponential moving average (EMA) and the old 2021 all-time high.
Price ultimately failed to hold either, and commenting, trader and analyst Rekt Capital said that the 200-week EMA was now “acting as resistance.”
“Ultimately, as long as Bitcoin remains below the 200-week EMA, history suggests price will favour additional downside,” he told X followers on the day.
BTC/USD one-week chart with 200-week EMA. Source: Rekt Capital/XTrading resource TheKingfisher meanwhile showed that price ran out of steam after taking out a ladder of liquidity below $69,000.
Continuing, trader Jelle, like many others, was in no hurry to announce a reliable trend change.
“Yesterday’s $BTC rally pushed price straight into the previous cycle highs & the 12h trend, and then rejected. The trend remains clear – be cautious & take it slow,” he summarized.
“Probably premature” to call end of bear market
Rekt Capital had similar ideas, arguing that by historical standards, it was not yet time for Bitcoin to abandon its relatively young bear market.
Related: Bitcoin traders explain why $80K is the next target for bulls
“The shortest Bitcoin Bear Market lasted 365 days. Bitcoin is currently ~140 days into its current Bear Market,” he added.
BTC/USD one-month chart. Source: Rekt Capital/XTrader Roman agreed, highlighting standard bear market drawdowns of 80% in previous cycles.
At its 15-month lows seen earlier in February, BTC/USD achieved a maximum drawdown of about 53% versus its October 2025 all-time high of $126,200.
“One bounce and suddenly everyone is calling for the bottom on $BTC,” Roman wrote on X.
BTC price drawdown from all-time highs. Source: GlassnodeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Source: https://cointelegraph.com/news/bitcoin-bear-market-not-over-already-price-rejects-68k-trend-line?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
