Bitcoin Decline Revives Comparisons With The 2022 Downturn

Is bitcoin replaying the scenario that triggered its collapse in 2022? While the market’s leading crypto fell to 59,100 dollars, some analysts are seeing the reappearance of technical signals that marked the previous bear market. This alarming interpretation contrasts with the optimism shown on Ethereum and the rebound expectations emerging around XRP. Between extreme fear and bets on a reversal, the crypto market finds itself at a new tipping point.

In Brief

• Bitcoin has fallen under pressure again and, according to some analysts, would be repeating a pattern already observed during the 2022 bear market.
• A key technical level now focuses investors’ attention, who are monitoring the risk of a new phase of decline.
• Despite the market correction, Standard Chartered maintains its bullish forecasts for Ethereum and highlights the strength of its fundamentals.
• XRP is trading in a historic technical zone fueling speculation about a possible bearish trap.

Bitcoin Faces a Decisive Support After Its Fall

Bitcoin plunged to 59,100 dollars during the recent market correction, rekindling investors’ worries. For analyst Rekt Capital, this sequence repeats a pattern already observed during the 2022 bear market.

In a post, he states that bitcoin is copying this period “almost identically”. His attention is now focused on the 50-month exponential moving average, located at 66,628 dollars.

According to him, this level could offer temporary support before a new phase of decline. The analyst thus believes that “over time, bitcoin will eventually yield below this exponential moving average and continue its downward trend over the current cycle”.

This analysis is based on several technical levels closely watched by investors :

• A recent low at 59,100 dollars ;
• A 50-month EMA located at 66,628 dollars ;
• A similar historical precedent observed during the 2022 bear market ;
• A risk of breaking this support which could increase selling pressure.

During the previous bear cycle, bitcoin bounced several times off this moving average before eventually losing it. It is precisely this parallel that today fuels the questions about the market’s ability to stabilize its prices in the coming weeks.

Ethereum and XRP Resist the Most Pessimistic Scenarios

While bitcoin commands the attention of technical analysts, other observers highlight more constructive signals in the rest of the market. The Crypto Fear & Greed Index fell to 11 out of 100, its lowest level since April 5. For trader Cryptic Trades, such a level of extreme fear could favor a technical rebound of the market.

At the same time, Standard Chartered bank maintains its forecast of Ethereum at 4,000 dollars by the end of this year despite about a 57% drop from its peak above 4,800 dollars reached in August 2025. Geoff Kendrick, the bank’s global head of crypto research, compares the current situation to Amazon after the internet bubble burst, stating that “the company’s fundamentals remained solid despite the drop in its stock price”.

XRP’s case also draws attention. After its drop to 1.25 dollars, the asset is trading, according to analyst Egrag Crypto, along a macroeconomic trendline supporting its price since 2017. He even mentions the possibility of the “largest bearish trap,” suggesting that part of the market might be underestimating the token’s rebound capacity. Such an interpretation contrasts with the prevailing pessimism observed in the crypto market in recent days.

The divergence between analyses illustrates the uncertainty currently dominating the sector. On one side, some observers see bitcoin’s weakness as the repetition of a known bearish pattern. On the other side, several sentiment indicators and long-term projections continue fueling more favorable scenarios for Ethereum and XRP.