Bitcoin’s bullish streak may finally be running out of gas. According to Coin Bureau, new on-chain data from CryptoQuant suggests the top crypto could be transitioning into a bearish phase, a worrying sign for traders who were expecting “Uptober” to deliver big gains.
The timing of this reversal is interesting. Bitcoin price has been trading above the six-figure threshold for weeks now, ushering in hope that a new leg of the bull run was underway. But the most recent chart paints a different picture, one that indicates exhaustion had been growing under the surface.
What you'll learn 👉
What the BTC Chart Shows
The CryptoQuant Bull-Bear Market Cycle Indicator tracks Bitcoin’s previous market cycles, ranging from “Extreme Bear” to “Overheated Bull.”
Now the indicator has crossed into the neutral-to-bearish zone, blue-shaded on the graph, a zone that was long preceded by the advent of cooling periods.
In previous cycles, this type of transition has preceded temporary pullbacks or extended consolidation. We saw similar behavior in 2017 and again in late 2021, both times when Bitcoin price slowed down after strong rallies before setting up its next move.
The current reading suggests momentum is fading. Bitcoin price is running at the upper end of its 365-day moving average range, a point that has traditionally marked a pivot between euphoria and correction. If the trend does turn lower, the market could be in for several weeks, perhaps even months, of sideways action.
🚨IS THE BITCOIN BULL RUN FADING?
— Coin Bureau (@coinbureau) October 20, 2025
CryptoQuant chart hints that #Bitcoin may be entering a bearish phase, signaling potential trouble ahead.
So much for #Uptober… pic.twitter.com/ZhVmbgsleh
What Analysts Are Saying
Coin Bureau summed it up perfectly: “So much for Uptober.” That line captures what many traders are starting to feel: Bitcoin’s big rally might be running out of steam.
The charts tell a similar story. Momentum indicators like RSI and MACD are showing clear signs of fatigue, while trading volume has dropped sharply. Retail traders seem to be stepping aside, and institutional activity has slowed. All of that points to a market that’s losing some of its bullish energy faster than expected.
Still, not everyone is turning bearish. Some analysts think this could simply be a healthy pause, giving Bitcoin time to cool off before another strong move upward.
With upcoming macro catalysts, including potential rate cuts and ETF-related inflows, Bitcoin’s broader structure still looks strong in the long term.
Read also: Here’s Why Synthetix (SNX) Price Is Pumping Today
What Comes Next
The $100,000 zone is still the line in the sand. As long as Bitcoin is above it, the uptrend technically still holds. But a decisive break below that level would be able to confirm the bearish reversal the CryptoQuant chart is indicating.
If that’s true, traders should expect some volatility as the market looks for new support, possibly somewhere around the mid-$80K zone. But if Bitcoin price quickly bounces back above recent highs, it could flip the script and reignite confidence that the bull run isn’t over yet.
Right now, the data shows hesitation. The market feels stuck between fading excitement and cautious optimism. Whether this turns into a deeper correction or just a short breather will depend on how Bitcoin reacts in the coming days.
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