Contrarian Indicator Suggests Bitcoin Is Near A Bottom

Contrarian Indicator Suggests Bitcoin Is Near A Bottom Contrarian Indicator Suggests Bitcoin Is Near A Bottom CryptoProwl Tue, June 23, 2026 at 6:41 PM GMT+2 1 min read BTC-USD BTC A 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 Billion Eightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares Surge Blockchain Projects Decline 75% As Developers Shift To A. I. Stanley Druckenmiller Says Stablecoins Could Reshape Global Finance New York Stock Exchange Invests $600 Million In Polymarket The 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.