Bitcoin (BTC) may have confirmed a decisive shift into bearish territory after slipping beneath a key long-term technical threshold closely followed by seasoned market analysts.
The 730-day simple moving average (SMA), a two-year trend gauge that has historically marked transitions into Bitcoin bear markets, now sits at roughly $81,250, according to insights shared by cryptocurrency analyst Ali Martinez in an X post on November 22.
Bitcoin investor tool. Source: Glassnode
According to the analysis, Bitcoin’s recent price action has pushed it below this level, a move that in past cycles has preceded extended periods of downward or sideways market performance.
The indicator, often referred to as an “investor tool,” overlays Bitcoin’s multiyear price trajectory with the 730-day SMA and its five-times multiple. Previous cycles show that losing the lower band has typically aligned with major cyclical peaks already being set and market sentiment gradually turning risk-of
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