Bitcoin MACD Drops to Bearish Level Not Seen Since 2022 – Crypto Winter Incoming?
The price of Bitcoin has struggled to consolidate its sustained climb over the past few weeks, with the latest failure at around $74,000 last week. However, the main cryptocurrency seems to have deeper problems than failed attempts to restore prices. According to experts of the crypto market, the price of Bitcoin is at a level reminiscent of the bearish period of 2022.
Will BTC Witness a 2022 Reversal?
In a March 8 post on the X platform, Chartered Market expert Tony Severino shared an interesting insight into the current state of the Bitcoin market. A crypto pundit has speculated that the world’s largest cryptocurrency may have to endure a bearish period related to the collapse of the Terra ecosystem (LUNA) in 2022.
The reason for this assessment is the continuous decline in the Moving Average Convergence Divergence (MACD) indicator on the two-week BTC price chart. MACD is a prominent momentum indicator used in technical analysis to identify trend direction, momentum changes, and potential entry and exit positions.
Generally, the Moving Average Convergence Divergence indicator has two lines: the MACD line (green) and the signal line (red), and a histogram, which shows the distance between the two lines mentioned above. The histogram, which is the main momentum indicator, currently shows strong bearish momentum.
This observation is because the bars of the histogram are increasing, indicating increasing pressure in the current direction (which is bearish because the bars are below the neutral or zero line). According to Severino, the MACD index is growing even to a level not seen since 2022, when the collapse of the Terra ecosystem (LUNA) sent bearish shockwaves throughout the crypto market.
2W Bitcoin LMACD momentum is around the same point before the fall of Luna in 2022
Maybe something bad is coming
How do you manage your risk? And you know how? pic.twitter.com/SFzsYJxiZc
— Tony Severino, CMT (@TonySeverinoCMT) March 8, 2026
Source: @TonySeverinoCMT on X
A crypto market analyst said, “it’s possible that something bad is coming,” suggesting that another crypto winter may be on the horizon. After the collapse of Terra in May, the cryptocurrency’s initial capital would have fallen from more than $50,000 to around $30,000 – a nearly 40% drop – by July 2022.
However, it is important to note that the market may have already priced in what is currently seen on the MACD indicator, which is often considered a lagging indicator. Moreover, Bitcoin has already lost about 30% of its value so far in 2026.
Bitcoin Price At A Glance
At the time of this writing, the price of BTC stands at about $67,520, showing a significant movement in the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Image posted by DALL-E, chart from TradingView
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