Bitcoin Updates: Historical Turnarounds Compared to 2022 Patterns—Analysts Confounded by Bitcoin's Death Cross

Bitcoin's recent death cross has sparked renewed discussions about the onset of a bear market, as the cryptocurrency hovers near $91,000 after slipping beneath both its 50-day and 200-day moving averages. This technical signal, which is often linked to extended market declines, has led to divided opinions among experts. While some caution that a downturn similar to 2022 could be on the horizon, others maintain that the market is still showing resilience despite the latest drop

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The death cross, where a short-term moving average falls below a long-term one, has made traders more wary. Over the past day, Bitcoin's value has fallen by about 5%, wiping out its gains for 2025 and hitting a seven-month low near $90,000

. Analyst Ali Martinez pointed out that each death cross in the past year has eventually reversed, but the current price movement closely resembles the speed and pattern of the 2022 slump, fueling worries about a drawn-out bearish period . On the other hand, Egrag Crypto argued that moving averages have become less dependable, highlighting Bitcoin's ability to stay above important long-term support zones .

Market sentiment has taken a sharp turn for the worse, with the fear and greed index plunging to an extreme fear reading of 11. , more than $1 billion in crypto positions have been liquidated, including $569 million in , as traders struggled with increased volatility. Blockchain data also showed a spike in Bitcoin being moved to exchanges, which could signal mounting selling pressure . The cryptocurrency's price has also dipped below its MVRV mean, a metric that measures undervaluation by comparing market value to realized value over time .

Billionaire investor Cameron Winklevoss heightened concerns by calling the November 18 drop below $90,000 a "final opportunity" to purchase Bitcoin at these prices. This decline followed a 28% fall from the October high of $126,000, putting Bitcoin in a vulnerable spot ahead of the Federal Reserve’s upcoming interest rate announcement

. Experts observed that the Fed’s uncertainty—balancing inflation concerns with a slowing job market—has added to Bitcoin’s volatility, with many traders expecting a rate cut in December .

Looking forward, Martinez identified possible support at previous market lows, suggesting that further declines could test levels seen in earlier cycles. The bear markets following the 2017 and 2021 peaks each lasted 364 days, with drawdowns of 84% and 77%. If the current cycle topped out in October 2025, a bottom might not be reached until October 2026, following similar historical trends

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The wider cryptocurrency market is also under pressure, with

and other leading coins deepening their losses amid global economic uncertainty. , BlackRock’s Bitcoin ETF, IBIT, has experienced $1.26 billion in outflows this month, reflecting changing investor preferences. At the same time, institutional giants like Fidelity and BlackRock are looking into new offerings, such as ETFs, to broaden their crypto portfolios .