Bitcoin Support Reclaim Fails as BTC Price Sinks Below $68,000
Bitcoin failed to reclaim key support levels, sinking below $68,000 as analysts caution that the bear market is likely not over.Summary
Bitcoin's attempt to regain momentum and reclaim key support levels, including the 200-week Exponential Moving Average (EMA) and previous all-time highs near $70,000, ultimately failed, causing the price to sink back below $68,000.
Analysts like Rekt Capital noted that as long as BTC remains below the 200-week EMA, history suggests further downside is likely, deeming any talk of the bear market ending as "probably premature." Rekt Capital pointed out that Bitcoin is only about 140 days into its current bear market, significantly shorter than the previous cycle's 365 days.
Other traders echoed this caution, highlighting that the recent rally only pushed the price into previous resistance zones. Furthermore, trader Roman observed that Bitcoin's maximum drawdown of about 53% from its October 2025 all-time high is less severe than the nearly 80% drops seen in previous bear cycles, suggesting patience is required.
(Source：Cointelegraph)