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The Bear Market Is Not Over Yet: Bitcoin Failed to Break the Key $68,000 Resistance
Bitcoin failed to hold above $70,000 and pulled back below $68,000 — traders warn that the bear market is far from over.
According to data from Bitstamp, on February 26 the asset returned to the $67,488 level, losing 1% on the day. A day earlier, Bitcoin had climbed to $70,040, attempting to reclaim two key levels: the 200-week exponential moving average (EMA) and the previous 2021 all-time high. Both attempts failed.
1-week $BTC/USD chart and 200 EMA. Source: Bitstamp
Trader and analyst Rekt Capital commented on social media platform X that the 200-week EMA is now acting as resistance, and as long as Bitcoin trades below it, historical patterns suggest a likely continuation of the decline.
1-week $BTC/USD chart. Analysis: Rekt Capital
Too Early to Call the End of the Bear Market
Trader Jelle urged caution: the recent rally pushed the price directly into the previous cycle high and a 12-hour trendline before a pullback began. According to him, the trend remains downward.
Chart: $BTC/USD. Analysis: Jelle
Rekt Capital also highlighted historical parallels. The shortest Bitcoin bear market lasted 365 days, while the current one has lasted only about 140 days. In his view, it is premature to declare the bear market over.
Trader Roman pointed to typical drawdown levels in previous bear cycles. According to Glassnode, Bitcoin has historically declined around 80% from its peak during bear markets. At the 15-month low recorded in early February, the maximum correction in $BTC/USD was approximately 53% from the October 2025 all-time high. Roman warned against premature conclusions: each bear cycle has historically involved nearly an 80% decline, and there are currently no reversal signals on the monthly or weekly charts.
1-week $BTC/USD chart. Analysis: Roman
See also: "Here Is XRP’s Target Price for Breaking the Descending Channel"
