Could this be the beginning of a crypto winter?

For stock markets, a prolonged period of declining prices is called a “bear market,” while in the crypto world, such a period is known as a “crypto winter.” The warning signs of a further decline in Bitcoin currently outweigh the somewhat scarcer positive narratives. Are we at the beginning of a new crypto winter?

Extreme fear

Although we’ve been trading above $100,000 on and off since November of last year, right now, some 12 months later, it increasingly feels like the end of the bull run (one which began at the end of 2022). Mentions of a potential crypto winter (a period of prolonged price declines) are numerous. The fall could indeed soon begin.

When Bitcoin forms a death cross on the monthly MACD, crypto has historically fallen by 60% before bottoming out. If history repeats, Bitcoin will fall to $50,500 over the next 8 months before bottoming out in the summer of 2026. Welcome to Crypto Winter 3.0. pic.twitter.com/ecGiv6O1UY

— Scott "Stock" Curry (@RealScottCurry) November 7, 2025

Fear now seems to be prevailing on the trading floor. The most well-known sentiment indices are hovering around the “extreme fear” levels which we’ve last witnessed in 2022. This reflects the sentiment of the last crypto winter, which crushed 80% of crypto’s value. That period, which began in November 2021, lasted a full year before Bitcoin finally bottomed out during the FTX bankruptcy.

While there’s still nothing to worry about at the moment, caution is advised in these extremely nervous circumstances.