Bitcoin Bear Market Hits New Low: Analysts Lose Their Minds

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Right, here we go again. Bitcoin‘s bear market is doing its best impression of a soap opera with the budget of a calorie-free snack. CryptoQuant says it’s off to a weaker start than 2022. Because obviously the plot twist should be the same tragedy, but with more charts and less romance.

Since slipping under the 365-day moving average in November, Bitcoin is down 23% in 83 days-versus a tame 6% drop over the same stretch in early 2022. Momentum, darling, is deteriorating faster this cycle. If you blink, you miss a dip that pretends it’s new information.

“This performance is worse than at the start of the previous bear market in January 2022.”

Bitcoin Bear Market Deepens

Bitcoin peaked at about $126,000 in early October, with the “Bull Score Index” lounging at 80. Then the Oct. 10 liquidity event happened, the index turned bearish, and now it’s zero while the price tanks to $71,000-“signaling broad structural weakness,” CryptoQuant says. The platform also insists Bitcoin “has lost key support levels” and may be targeting $70,000 to $60,000, like a bad fashion trend that won’t quit.

Bitcoin was rejected three times at the “Traders’ On-chain Realized Price,” a key on-chain support and resistance level. It also recently crossed below the lower band of this same metric, which used to be a support during the bull market-because apparently old comfort zones don’t want to be friends anymore.

Bitcoin’s bear market is off to a weaker start than 2022.

Since falling below the 365-day MA on Nov 12, 2025, $BTC is down 23% in 83 days, vs. just 6% over the same period in early 2022.

Momentum is deteriorating faster this cycle.

– CryptoQuant.com (@cryptoquant_com) February 4, 2026

Meanwhile, Santiment reports sentiment “has turned extremely bearish toward Bitcoin and Ethereum” following the major downswing this past week. Because nothing says optimism like a mood swing with a side of metrics.

“As we know, markets move opposite to the fear and greed of retail traders. There remains a strong argument for a short-term relief rally as long as the small-trader crowd continues to show disbelief toward cryptocurrency as a whole.”

“The BTC bear market rages on as profitability resets, realised losses rise, spot demand stays weak, and leverage unwinds,” reported Glassnode.

Meanwhile, the crypto “Fear and Greed Index” has fallen back to all-time lows around 12 as sentiment collapses and panic selling continues. It’s giving off all the vibes of a group chat before coffee-chaos with a side of regret.

Crypto Market Outlook

Total capitalization has declined again today, sliding 4.4% to $2.53 trillion, its lowest level since April 2025. If the drop continues, we’re eyeing bear-market lows from 2024 like a cancelled sequel that everyone pretends to want but secretly doesn’t.

Bitcoin dumped again, slipping below $71,000 during early trading in Asia on Thursday morning. BTC is back at November levels and seems set for a visit to support around $65,000, as if the universe is politely nudging us toward a lower price tag.

Ether is in meltdown, crashing below $2,100 and failing to recover, also on a path to previous cycle lows. A quiet meltdown-much like a dramatic exit in a prestige drama, but with more gas fees.

Altcoins are not even worth mentioning, tanking even harder than the top two, with most now at about 80% down from their peaks. It’s not heartbreak; it’s a full-blown tragedy with a very tiny audience.

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2026-02-05 10:44