Bitcoin bear market not 'over already' as price rejects at $68K trend line

Bitcoin started bleeding gains at Thursday's Wall Street open as bulls hit a fresh resistance wall. Data shows $67,000 is back in play with daily losses on BTC/USD passing 1%.

The pair had pumped to $70,040 the day before as buyers tried to crack two critical levels: the 200-week exponential moving average (EMA) and the old 2021 all-time high. Spoiler: they failed on both.

Trader and analyst Rekt Capital called it: the 200-week EMA is now "acting as resistance." He dropped the truth bomb: "Ultimately, as long as Bitcoin remains below the 200-week EMA, history suggests price will favour additional downside."

Trading resource TheKingfisher showed price ran out of steam after liquidating a ladder of liquidity below $69,000. Trader Jelle kept it real: "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."

Rekt Capital hit us with the historical receipts: "The shortest Bitcoin Bear Market lasted 365 days. Bitcoin is currently ~140 days into its current Bear Market." Then the mic drop: "Any talk of the Bear Market being over already is probably premature."

Trader Roman backed it up, highlighting standard bear market drawdowns of 80% in previous cycles. At its 15-month lows in February, BTC/USD only saw a ~53% drawdown from its October 2025 ATH of $126,200. He warned: "One bounce and suddenly everyone is calling for the bottom on $BTC. Don’t be deceived. Every bear cycle has dropped nearly 80% from its peak. Not to mention the 1M and 1W have no signs of reversal. Patience."