Bitcoin bear market momentum sparked a record crash below the 200-day simple moving average as analysis expected BTC price "mean reversion" next.

Bitcoin fell by more than $10,000 in a single day for the first time, with BTC price bear market analysis warning that a rebound could take several years.

Bitcoin selling pressure sparked a retreat below the 2021 bull market high, with lower BTC price targets still expected to be hit.

Bitcoin fell to its lowest level since late 2024, breaking below its prior local low as traders turned their attention to $70,000 and lower support zones.

Bitcoin is approaching its 200-week moving averages, a long-term support zone traders say could help define a potential BTC price floor.