Is Bitcoin Bottoming Out? Long-Term Indicators Shift as Short-Term Pain Persists: Fidelity
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Fidelity Digital Assets warned that Bitcoin has been in a death cross for more than 200 days and briefly broke below the 200-week moving average over the weekend. The firm noted sustained breaks of that level have historically coincided with forced selling events such as in 2022, highlighting downside risk to crypto market liquidity and potential knock-on effects for DeFi and CEX activity.
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“Is Bitcoin flashing bear market continuation, or an early bull market reset?” asked Fidelity Digital Assets on Tuesday. The asset manager noted that BTC has been in a death cross for more than 200 days, with the price briefly breaking below the 200-week moving average over the weekend.
“Notably, sustained breaks below this level have historically coincided with forced selling events,” such as in 2022, it added.
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