Crypto
Bitcoin Trapped in Bearish Downtrend Amid Flatlined Momentum and Crowded Longs
Bitcoin's price has been stuck at $63,713, and the chart is painting a clear picture of a bearish trend. The MACD is flatlined, indicating a lack of momentum, while retail investors are heavily long on the asset, which could be a sign of a market top.
The 50-day SMA at $63,398 is the key level to watch, as its loss would open up support at $62,544. The bulls are clinging to this level by just $315, making it an precarious position for them to hold onto.
Fundstrat's Tom Lee predicted in January 2026 that Bitcoin had yet to peak and was still headed higher. However, the market has since corrected decisively, with BTC now nearly $6,000 below its 200-day SMA.