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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
11/27/2025

This Indicator Suggests Bitcoin May Have Left the Bull Market: Is the Bull Run Really Over?

A key long-term trend indicator for Bitcoin has officially flipped bearish, prompting many analysts to warn that the bull cycle may be over — though not everyone agrees. 200-day trend reversal: A bad signal for the market Analyst Crypto₿irb, with over 700,000 followers on X, stated Thursday that from a technical standpoint, Bitcoin's bull market "is over." According to him, Bitcoin is showing a "sustained trend reversal," confirmed by factors including a deeper downside price range, a spike in trading volume, above-average volatility, an extended period trading below the 200-day trend line, and weakening market breadth.

This Indicator Suggests Bitcoin May Have Left the Bull Market: Is the Bull Run Really Over?

A key long-term trend indicator for Bitcoin has officially flipped bearish, prompting many analysts to warn that the bull cycle may be over — though not everyone agrees.

200-day trend reversal: A bad signal for the market

Analyst Crypto₿irb, with over 700,000 followers on X, stated Thursday that from a technical standpoint, Bitcoin's bull market "is over."
According to him, Bitcoin is showing a "sustained trend reversal," confirmed by the following factors:

  • Deeper downside price range
  • A spike in trading volume
  • Above-average volatility
  • An extended period trading below the 200-day trend line
  • Weakening market breadth

Crypto₿irb forecasts that 2026 could be a year of prolonged correction.

Another bearish signal is that the 200-day moving average (MA200) has started sloping downward, while also forming a death cross as it crossed below the MA50 in mid-November. A death cross is widely regarded as a long-term bearish reversal indicator.

Growing consensus that Bitcoin has entered a bear market

Markus Thielen of 10x Research put it bluntly:

"There's no doubt about it — Bitcoin is in a bear market."

He believes the current recovery is merely a "bear market reversal rally."

Not everyone is bearish, however.
Henrik Andersson, Chief Investment Officer at Apollo Capital, argues that while buying pressure from Digital Asset Treasuries (DATs) in the first half of the year has faded, that doesn't necessarily mean BTC is in a bear market.

He said:

"The direction from here will depend on how risk assets broadly perform. Investors need to be more selective than ever."

Near-term hope for bulls: The $90,000–$92,000 zone is the make-or-break level

Analyst Skew noted on the 4-hour chart that BTC is showing more constructive signals for buyers:

  • If bullish momentum holds, price could continue pushing higher
  • But a drop below $88,000 would significantly undermine the trend

According to Skew, the $90,000–$92,000 zone is a critical "trend battleground" that will determine whether BTC can reclaim the upper hand.

On Thursday morning, Bitcoin came close to $92,000 on Coinbase before pulling back to around $91,200.

End of the bull market, or just a deep correction?

Technical data is currently sending mixed signals.

  • Long-term indicators like the MA200 and the death cross suggest downside risk remains elevated.
  • But short-term momentum and buying demand at key support zones are keeping bulls hopeful.

Bottom line: Bitcoin hasn't fully lost its uptrend, but it's in a high-risk zone — and the $90,000–$92,000 range will serve as the market's critical stress test.