Skip to navigationSkip to main contentSkip to right columnCryptoProwlTue, June 23, 2026 at 6:41 PM GMT+2 1 min readContrarian Indicator Suggests Bitcoin Is Near A BottomA historically accurate contrarian indicator suggests that Bitcoin (CRYPTO: $BTC) is near a bottom and that its price is not likely to fall much further. The indicator is based on Bitcoin's 50-week simple moving average (SMA) and its 100-week average. The 50-week average is close to dropping below the 100-week line and forming what analysts call a "bear cross." More From Cryptoprowl:Ripple, The Company Behind XRP, Is Valued At $50 BillionEightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares SurgeBlockchain Projects Decline 75% As Developers Shift To A.I.Stanley Druckenmiller Says Stablecoins Could Reshape Global FinanceNew York Stock Exchange Invests $600 Million In PolymarketThe bear cross, which could form later this week, has marked a bottom in past selloffs of Bitcoin. There have been three previous bear crosses in Bitcoin's history, and each marked a bottom for the largest cryptocurrency by market capitalization. Some analysts say that an impending bear cross indicates that a decline in Bitcoin that has been ongoing since last October has nearly run its course and a bottom is near.Several analysts and crypto bulls have said that BTC likely bottomed when its price briefly dipped below $60,000 U.S. earlier in June. Critics and skeptics argue that the three past instances of a bear cross aren't enough to draw a definite conclusion. However, each previous bear cross led to a bottom forming in Bitcoin. BTC is currently trading at $62,280 U.S. Bitcoin has largely been rangebound and trading between $60,000 U.S. and $65,000 U.S. in June of this year. Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info