Bitcoin Dips Below $95K: Bearish Signals Emerge, But Resilience Suggests A ‘Wait And See’ Approach
In Brief
Bitcoin has fallen below $95,000 amid broader crypto and equity declines, prompting caution as analysts debate whether a bear phase is beginning or support levels will hold.
Price of Bitcoin has fallen below the $95,000 mark and is currently trading at $94,958, reflecting a decline of over 7.37% in the past 24 hours, according to CoinMarketCap data. During this period, Bitcoin reached a high of $103,143 and a low of $94,714.
The total market capitalization of cryptocurrencies stands at $3.21 trillion, down 7.12% over the last day, while the 24-hour trading volume across digital assets has increased by 46.11% to $257.25 billion.
Data from CoinGlass indicates that out of $1.37 billion in liquidations, $1.23 billion came from long positions. US spot Bitcoin exchange-traded funds (ETFs) experienced $869.9 million in outflows on Thursday, marking their second-largest withdrawals on record. The Fear and Greed Index has dropped to 16 points.
Bitcoin is not alone in experiencing losses; other major cryptocurrencies, including Ethereum and Solana, have fallen approximately 10%, while crypto-related equities are also under pressure. The tech-heavy Nasdaq index has declined 2.30%, and the S&P 500 has fallen 1.66% at the time of reporting.
These movements have led market participants to express concerns about the potential onset of a bearish phase, with analysts offering a range of forecasts from negative to neutral.
Is Bitcoin Entering A Bear Phase Or Awaits Upside Movement?
Analyst Axel Adler Jr. noted that the cryptocurrency market is approaching a bear phase based on three key institutional metrics and suggested that Bitcoin could fall to $74,000.
He highlighted $87,000 and $74,000 as critical support levels, emphasizing that the current price is nearly 12% below the 200-day moving average of $110,486, which by BlackRock and Goldman Sachs standards signals a bear trend.
Axel Adler Jr. also pointed to a pattern of lower highs and lows on the daily chart since November 13th. An imminent moving-average crossover, known as a “death cross,” is forming as the gap between the 50-day SMA ($110,972) and the 200-day SMA ($110,486) narrows to $486 (0.44%), potentially activating the third bearish metric used in institutional models.
Historically, such death crosses have signaled the end of bull cycles, leading to corrections in 2014, 2017, and 2021, though they have also produced false bearish signals in September 2023, August 2024, and April 2025.
Meanwhile, CEO of CryptoQuant, Ki Young Ju, commented on the situation, stating, “Those who entered Bitcoin 6 to 12 months ago have a cost basis near 94K. Personally, I do not think the bear cycle is confirmed unless we lose that level. I would rather wait than jump to conclusions.”
JPMorgan analysts, led by Managing Director Nikolaos Panigirtzoglou, noted that Bitcoin’s downside appears limited, with a support level around $94,000, which aligns with the estimated production cost of the cryptocurrency.
Furthermore, Wintermute analysts observed that Bitcoin continues to correlate with equities but is increasingly sensitive to Nasdaq losses rather than gains, a behavior typical of the final phases of a market correction. This asymmetry suggests exhaustion rather than euphoria, indicating that Bitcoin’s price has remained relatively resilient despite the current dynamics.
The current market conditions suggest a “wait and see” approach may be prudent. While Bitcoin has experienced notable declines, there are also signs of resilience. Adopting a patient, observant stance allows investors to monitor how the situation develops before making decisive moves.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
