The price of Bitcoin has struggled to see a sustained rise in recent weeks, with the latest falling around the $74,000 mark last week. However, the leading cryptocurrency appears to have bigger problems than failed attempts at price recovery. According to a crypto market expert, the price of Bitcoin is at a stage reminiscent of the bearish period of 2022.
Is BTC about to see a repeat of 2022?
In a March 8 article on Platform The crypto expert speculated that the world’s largest cryptocurrency may face a bearish period associated with the Terra (LUNA) ecosystem crash in 2022.
The rationale for this assessment is the steady decline in the Moving Average Convergence Divergence (MACD) indicator on BTC’s two-week price chart. The MACD is an important momentum indicator used in technical analysis to identify trend direction, momentum changes, and potential entry and exit positions.
Typically, the Moving Average Convergence Divergence indicator has two lines: the MACD line (green) and the signal line (red), as well as a histogram that reflects the distance between the two aforementioned lines. The histogram, which is the main momentum indicator, is currently signaling strong bearish momentum.
This observation is because the histogram bars are getting larger, signaling increasing momentum in the current direction (which is bearish because the bars are below the neutral or zero line). According to Severino, the MACD indicator is even reaching levels not seen since 2022, when the collapse of the Terra (LUNA) ecosystem sent a bearish shockwave throughout the entire crypto market.
Bitcoin LMACD 2W Momentum Is Around the Same Point Ahead of 2022 Luna Crash
Something bad might happen
How do you manage your risk? And do you even know how? pic.twitter.com/SFzsYJxiZc
– Tony Severino, CMT (@TonySeverinoCMT) March 8, 2026
Source: @TonySeverinoCMT on X
The crypto market analyst said, “it’s possible something nasty could happen,” suggesting another crypto winter could be around the corner. After Terra’s collapse in May, the leading cryptocurrency is estimated to have fallen from over $50,000 to around $30,000 – a drop of around 40% – by July 2022.
However, it is important to note that the market may have already priced in what is currently seen in the MACD indicator, which is often considered a lagging indicator. Additionally, Bitcoin has already lost almost 30% of its value in 2026.
Bitcoin Price at a Glance
At the time of writing, the BTC price stands at around $67,520, reflecting no significant movement over the past 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image by DALL-E, chart by TradingView
Editorial process as Bitcoinist focuses on providing thoroughly researched, accurate and unbiased content. We follow strict sourcing standards and every page undergoes careful review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance and value of our content to our readers.
