Bitcoin Bear Market Faces 68K Rejection

Bitcoin Bear Market pressure returned at Thursday’s Wall Street open as BTC started giving back recent gains, with bulls facing renewed resistance near the 70,000 level. After briefly building upside momentum earlier in the week, Bitcoin failed to hold above key technical levels, reinforcing caution across both short and higher time frames. The latest rejection has revived debate over whether the broader downtrend is truly over or if the market remains structurally bearish.

Over the past month, BTC price action reflects the broader Bitcoin Bear Market structure, with repeated attempts to push higher meeting resistance near the upper range. The chart shows how momentum builds quickly during short rallies but fades as price approaches key technical levels. Despite brief recoveries, the inability to sustain strength above resistance highlights the cautious tone dominating the market. The overall pattern suggests consolidation under pressure rather than a confirmed shift in long-term trend.

Bitcoin Bear Market Momentum Fades Below 70,000

Data from TradingView showed BTC/USD drifting back toward 67,000 as daily losses moved past 1 percent. Just a day earlier, the pair had climbed as high as 70,040, sparking optimism that buyers were attempting a stronger recovery. However, that upward push quickly lost strength once price encountered two major resistance levels.

Bitcoin attempted to reclaim the 200-week exponential moving average and the previous 2021 all-time high. Both levels are widely watched by traders because they often define long-term market structure. Although price briefly traded into that resistance zone, it failed to hold above it. The rejection shifted short-term sentiment from bullish anticipation back to defensive positioning.

200-Week EMA Acting as Resistance

Analyst Rekt Capital pointed out that the 200-week EMA is now acting as resistance rather than support. Historically, this moving average has played a critical role in separating bullish and bearish phases. When price trades above it, confidence typically improves. When price remains below it, downside risk often persists.

According to his analysis, as long as Bitcoin stays under the 200-week EMA, historical behavior suggests price will favor additional downside. That perspective supports the broader Bitcoin Bear Market narrative and reduces confidence in calling an immediate trend reversal.

Liquidity Sweep Fails to Sustain Rally

Further weakness was observed after price cleared a ladder of liquidity below 69,000. Trading resource TheKingfisher showed that once that liquidity was taken out, momentum faded quickly. Liquidity-driven moves can trigger sharp spikes, but without sustained demand, they often reverse just as fast.

The rally toward 70,000 appears to have lacked strong follow-through buying. Once the available liquidity was absorbed, there was insufficient strength to maintain higher levels. As a result, BTC/USD slipped back toward 67,000, placing focus once again on nearby support areas.

Traders Urge Patience in Bitcoin Bear Market

Trader Jelle echoed the cautious tone shared by many in the market. He noted that the recent rally pushed price directly into the previous cycle highs and a 12-hour trend resistance level before facing rejection. From his perspective, the broader trend remains clear and has not yet shifted decisively in favor of bulls.

He advised traders to remain cautious and take things slowly rather than assuming that one strong bounce confirms a lasting bottom. This approach reflects broader market sentiment, where participants are waiting for stronger confirmation signals before declaring a new uptrend.

Short-term volatility continues to dominate price action. While temporary rallies can create excitement, analysts emphasize the importance of watching higher time frame closes and structural levels before forming strong directional conclusions.

Is It Too Early to End the Bitcoin Bear Market?

Rekt Capital also addressed the broader cycle perspective. He highlighted that the shortest Bitcoin bear market in history lasted 365 days. At present, Bitcoin is approximately 140 days into its current bear phase. By historical comparison, that suggests the cycle may still be relatively young.

From this standpoint, declaring the Bitcoin Bear Market over already would likely be premature. Bear cycles often extend longer than traders initially expect, and short-lived rallies are common within broader downtrends.

The emphasis on time duration adds another layer of caution. Market structure is not defined solely by price levels, but also by how long bearish conditions persist. Until historical time patterns are better aligned, optimism may remain restrained.

Historical Drawdowns Add Context

Trader Roman provided additional perspective by referencing previous cycle drawdowns. In past bear markets, Bitcoin has typically fallen close to 80 percent from peak to trough before forming a durable bottom.

At its 15-month lows earlier in February, BTC/USD recorded a maximum drawdown of around 53 percent compared to its October 2025 all-time high of 126,200. While significant, that decline is noticeably smaller than past bear market extremes.

Roman cautioned against assuming that one bounce confirms a bottom. He also pointed out that both the monthly and weekly charts show no clear signs of reversal. His message emphasized patience rather than reacting emotionally to short-term recoveries.

Editor’s View: Why Bitcoin Bear Market Optimism Fades So Quickly

One consistent pattern in every Bitcoin Bear Market phase is how quickly sentiment shifts after a sharp bounce. When price approaches major resistance like the 200-week EMA or prior cycle highs, traders who were previously cautious often begin to anticipate a trend reversal before structure has actually changed. That optimism tends to fade just as fast when resistance holds, creating emotional whiplash in the market. What this recent rejection shows is not just technical weakness, but the ongoing tension between hope and confirmation that typically defines mid-cycle bear conditions.

Bitcoin Bear Market Structure Still Dominates

Taken together, the current technical landscape suggests that the Bitcoin Bear Market structure remains intact. Resistance at the 200-week EMA, rejection near previous cycle highs, and fading liquidity-driven momentum all support a cautious outlook.

Psychological levels such as 70,000 can attract strong attention, but without sustained closes above key resistance, confidence in a lasting reversal remains limited. Market participants continue monitoring long-term moving averages and higher time frame charts for confirmation of structural change.

For now, the consensus among several analysts is clear. While short-term rallies may continue to occur, they do not automatically signal the end of bearish conditions. Until Bitcoin convincingly reclaims major resistance zones and demonstrates consistent strength above them, caution remains the dominant approach.

Patience, rather than urgency, defines the current market tone. The recent rejection serves as a reminder that bear markets often include sharp but temporary rebounds before any durable trend reversal is confirmed.

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Disclaimer: This content is for informational purposes only and does not constitute financial advice.

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