Rekt Capital: Bitcoin Bear Market Not Over, Price Blocked at $68,000

Odaily News Rekt Capital analysis points out that BTC price is encountering resistance at the $68,000 trendline, with momentum weakening after falling below $70,000. TradingView data shows that BTC/USD has fallen over 1% for the day, having previously touched the 200-week Exponential Moving Average (EMA) and the 2021 all-time high at $70,040 but failing to hold. Rekt Capital states that the 200-week EMA has now become a resistance level. If Bitcoin remains below this level, historical data suggests a tendency for prices to decline further. After liquidity ladders below $69,000 were consumed, momentum was lost. Yesterday's rally pushed the price to the previous cycle high and the 12-hour trendline before being given back. The trend remains clear, requiring cautious and slow progress. Rekt Capital further notes that the shortest Bitcoin bear market lasted 365 days. The current one has entered approximately 140 days, and it is still not the time to exit the bear market. Historical bear markets typically see declines of around 80%. The maximum drawdown for BTC from the October 2025 high of $126,200 to the 15-month low in February was approximately 53%. (Cointelegraph)