Bitcoin price strength failed to reclaim a key support zone with traders still expecting the bear market to match previous cycles.
Bitcoin (BTC) began to give back gains at Thursday’s Wall Street open as bulls faced a new resistance headache.
Key points:
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Bitcoin fails to reclaim some recently-lost support levels as its $70,000 rebound loses momentum.
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Traders stay highly cautious on BTC price action across short and long time frames.
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Calling the end of the bear market is “probably premature,” analysis says.
BTC price strength fizzles below $70,000
Data from TradingView showed $67,000 coming back into focus as daily losses on BTC/USD passed 1%.
The pair had climbed as high as $70,040 the day prior as buyers launched an assault on two key levels: the 200-week exponential moving average (EMA) and the old 2021 all-time high.
Price ultimately failed to hold either, and commenting, trader and analyst Rekt Capital said that the 200-week EMA was now “acting as resistance.”
“Ultimately, as long as Bitcoin remains below the 200-week EMA, history suggests price will favour additional downside,” he told X followers on the day.
Trading resource TheKingfisher meanwhile showed that price ran out of steam after taking out a ladder of liquidity below $69,000.
Before – After
In liqs and $BTC we trust
Kingfisher pic.twitter.com/7ZfHVJxzb8
— TheKingfisher (@kingfisher_btc) February 26, 2026
Continuing, trader Jelle — like many others — was also in no hurry to announce a reliable trend change.
“Yesterday’s $BTC rally pushed price straight into the previous cycle highs & the 12h trend, and then rejected. The trend remains clear – be cautious & take it slow,” he summarized.
“Probably premature” to call end of bear market
Rekt Capital had similar ideas, arguing that by historical standards, it was not yet time for Bitcoin to abandon its relatively young bear market.
Related: Bitcoin traders explain why $80K is the next target for bulls
“The shortest Bitcoin Bear Market lasted 365 days. Bitcoin is currently ~140 days into its current Bear Market,” he added.
“Any talk of the Bear Market being over already is probably premature.”
Trader Roman agreed, highlighting standard bear market drawdowns of 80% in previous cycles.
At its 15-month lows seen earlier in February, BTC/USD achieved a maximum drawdown of around 53% versus its October 2025 all-time high of $126,200.
“One bounce and suddenly everyone is calling for the bottom on $BTC,” Roman wrote on X.
“Don’t be deceived. Every bear cycle has dropped nearly 80% from its peak. Not to mention the 1M and 1W have no signs of reversal. Patience.”
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