Bitcoin Hits Record Low MACD Signal Amid Historic Price Drop

The 3-day Moving Average Convergence Divergence (MACD) indicator, a crucial momentum tracker for Bitcoin, has fallen to a record low. Market analyst Michaël van de Poppe highlighted this development, stating the decline “was heavier than the 2022 Luna crash, the 2020 COVID crash, or the 2018 bear market.” This technical signal underscores the magnitude of the sell-off from highs near $126,000 in October 2025 to a recent low just above $85,000, as reported by CoinGecko.

Despite the alarming depth of the MACD reading, the broader price chart retains a glimmer of structural hope. The series of higher lows compared to past bear market bottoms suggests the long-term bullish framework may not be entirely broken. However, this historical context offers little immediate comfort, as the indicator’s plunge reflects a sharper and more rapid reversal of momentum than witnessed in any previous Bitcoin cycle.

Currently trading around $90,000, Bitcoin finds itself in what analysts describe as a neutral zone. The immediate battle lines are clearly drawn. For bullish momentum to resume, Bitcoin must decisively reclaim the $92,000 level. Failure to do so could see the price drift down toward $88,000, a level where a gap on the CME futures chart may need to be filled.

The stakes for the downside are even higher. Analyst Ali Martinez has identified $87,200 as a critical support floor. A sustained break below this level, he warns, could trigger a more severe drop toward $69,230. His analysis points to a rising triangle pattern on the daily chart that was recently rejected at $92,750. A break below the pattern’s lower trendline would invalidate this formation and firmly shift market bias to the downside.

Van de Poppe offers a slightly more tempered short-term view, describing the current phase as one of “boredom” with Bitcoin holding above the 21-day moving average. He notes that as long as this support holds, there is “Nothing to worry” about from a near-term perspective. His chart analysis shows the price hovering near $90,500 with a rising trendline providing a foundation for bulls to defend.

The tight trading range between $85,000 and $90,000, which has persisted for weeks, is not solely a product of indecision. Reports from CryptoPotato indicate sophisticated market mechanics are at play. Large players, potentially institutional dealers, are reportedly engaging in hedging strategies that involve selling into price spikes and buying on dips. This activity effectively contains volatility and enforces the current range-bound action, particularly between $90,000 and $95,000.

Looking ahead, the $100,000 mark looms as a formidable psychological and technical resistance level. The market’s ability to absorb selling pressure and hold above key supports like $87,200 will be paramount. While the record-low MACD signals a historic correction, the preservation of higher lows on the chart and the presence of active range-trading provide a complex backdrop. The coming weeks will test whether this consolidation represents a healthy pause before a renewed upward move or merely the calm before a breakdown toward lower supports.