Bitcoin is sinking deeply into a bearish trend, according to CryptoQuant
Bitcoin has just surpassed a critical threshold that marks a before and after. According to CryptoQuant, the break below its 365-day moving average is no longer just a technical signal: it clearly marks the beginning of a new bear market. This change occurs in the context of decreasing institutional demand and deterioration of on-chain signals. The bullish momentum seems to have ended, replaced by a market dynamic based on caution, expectation, and the risk of a prolonged downturn.
In brief
Bitcoin has crossed a critical technical threshold: its 365-day moving average has been broken for the first time since March 2022.
According to CryptoQuant, this break marks a formal transition to a prolonged bear market.
On-chain indicators are at their lowest level, particularly a "Bull Market Index" of zero and a decrease in the liquidity of stablecoins.
The negative premium on Coinbase reflects a marked disaffection among U.S. investors.
The market confirms its entry into a prolonged bearish phase
On February 5, CryptoQuant analysts revealed an important technical signal: the break of Bitcoin's 365-day moving average, a threshold considered critical for judging the long-term trend.
This break occurred for the first time since March 2022, according to the report. Since then, the price of Bitcoin has fallen approximately 23% in 83 days, a faster and sharper decline than that observed during the 2022 bear market. For CryptoQuant, this break leaves little doubt: the market has entered a fundamental bearish trend.
The "Bull Market" index is at zero: the CryptoQuant indicator, which is supposed to reflect buying pressure, shows a total absence of bullish momentum;
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