Analysts: Bitcoin's rebound was capped by the $68,000 trendline; the bear market is not over yet.

PANews reported on February 26th that, according to Cointelegraph, Bitcoin retreated to around $67,000 after failing to recover a key support level. Traders and analysts pointed out that the 200-week exponential moving average and the all-time high before 2021 are both acting as resistance. The 200-week EMA is currently "acting as resistance," and historical experience suggests that if the price continues to stay below this moving average, it will tend to move further down.

Analysts are generally cautious about whether the bear market has ended. Rekt Capital stated that the shortest Bitcoin bear market in history lasted 365 days, while the current bear market has only lasted about 140 days, making any discussion about its end "likely premature." Trader Roman pointed out that previous bear market cycles saw declines of nearly 80%, while the current market has only retraced about 53% from its October 2025 high, with no signs of reversal on the monthly and weekly charts. Most traders believe the trend remains unclear and caution is warranted.