Critical Bitcoin weekly trend breaks for first time in 2+ years: Is BTC done?
Bitcoin’s weekly candle closed before a key moving average, breaking a 30-month trend and possibly signalling that new price lows are pending.
Bitcoin (BTC) closed a weekly candle below its 200-period exponential moving average (EMA) for the first time since October 2023. The weekly close ended a technical uptrend that lasted for 882 days.
The shift in trend renews focus on BTC’s onchain cost-basis levels and its historical interaction with the key moving average across previous cycles, framing a broader recovery timeline based on past market behavior.
The 200-week EMA tracks Bitcoin’s long-term trend and has historically separated expansion phases from the deeper corrective periods. On the weekly chart, BTC closed below the average near $67,628, ending a support streak that began in late 2023.