Is Bitcoin Already in a Bear Market? One Key Metric Says Yes

[nihalsari]

According to CryptoQuant, Bitcoin may already be deep into a new bear phase. Julio Moreno, the firm’s head of research, says several indicators in CryptoQuant’s Bull Score Index flipped bearish back in early November and have not recovered since. For Moreno, the most decisive signal is technical: Bitcoin falling below its one-year moving average, a level often used to confirm long-term trend reversals.

That signal clashes with popular narratives that frame 2026 as the next big growth year for Bitcoin. While price alone doesn’t define a cycle, Moreno argues that weakening network activity, demand, and liquidity together paint a picture that looks much closer to the early stages of a bear market than a temporary correction.

[lingriiddd]

calling a bear this early is always controversial but that 1y ma break is hard to ignore