Bitcoin December 2022: Is the Bear Market Finally Losing Steam?

December 2022 was a pivotal month for Bitcoin, leaving many investors wondering: is the brutal bear market finally losing its grip? After a year of significant declines, hope began to flicker as some analysts suggested a potential shift in momentum. This article delves into the key indicators and expert opinions surrounding Bitcoin's performance in December 2022 to assess the possibility of a market turnaround.

One interesting observation was that Bitcoin spending an “unprecedented” period below a key moving average is a poor guide to the 2025 bear market. That was the opinion of analyst Superswell, who this. Their analysis suggested traditional indicators might not accurately predict future market behavior in this evolving crypto landscape.

Adding to the cautious optimism, other analysts pointed to the crypto asset’s position. Rather, it seems Bitcoin is currently in no-man's land straddling the edges of the past bear market and its potential next leg up in a coming bull market. This ambiguous positioning fueled speculation about a potential breakout or further consolidation.

Popular crypto analyst Benjamin Cowen also weighed in on the situation. But while it remains, Cowen tells his 779,000 YouTube subscribers that based on the Bitcoin supply in profit and loss ratio, the bears are losing momentum as the price of the largest crypto. This observation, based on on-chain data, provided further evidence that the selling pressure might be subsiding.

While the overall market sentiment remained cautious, the combined analysis of moving averages, supply dynamics, and expert opinions suggested that the Bitcoin bear market in December 2022 might have indeed been losing steam. However, further confirmation was needed to confirm the start of a new bullish cycle.