Bitcoin Bearish Momentum Signal Flashes Worst Reading Since Terra Collapse
A bearish momentum signal has appeared on Bitcoin's two-week chart, sparking concerns about a potential extended downturn. The Moving Average Convergence Divergence (MACD) indicator has hit its lowest reading since the Terra ecosystem collapse in 2022.
According to Chartered Market Technician Tony Severino, this pattern suggests strengthening bearish pressure. The MACD histogram, which tracks the distance between the indicator's two lines and serves as a gauge of momentum direction, is expanding below the zero line.
The last time the histogram reached comparable levels was in 2022, just before Terra's collapse sent shockwaves across crypto markets. Bitcoin fell from above $50,000 to roughly $30,000 by July that year - a decline of about 40%. Severino has flagged this deterioration as a potential warning sign.
The market may have already priced in the weakness the histogram is now displaying, but the comparison to 2022 carries weight given the severity of the downturn that followed. Bitcoin has shed nearly 30% of its value in 2026 and traded at around $67,179 at the time of writing.