Bitcoin remains stuck in a bear market, and the 200-week moving average is the single most important level for its long-term health, according to macro strategist Jordi Visser. His assessment comes as digital assets show signs of a structural shift — bitcoin's recent decoupling from equities may signal a new phase for crypto investment strategies.
Bear market isn't over
Visser isn't calling a bottom yet. He argues that bitcoin is still in a bear market, and the macro environment hasn't turned decisively bullish. The timing matters: the 200-week moving average has historically acted as a floor during prolonged downturns, and losing that level would be a technical blow. He didn't put a price target on it, but the emphasis is clear — that trendline is the line in the sand.
What the 200-week MA means
For bitcoin traders, the 200-week moving average is a widely watched benchmark for long-term viability. It's not a short-term signal — it smooths out years of data. Visser's point is that as long as price holds above that average, the structural uptrend remains intact. Below it, the bear case strengthens. Today's market is testing precisely that tension.
Rotation ahead
Visser expects a market rotation in the coming months. That likely means capital moving between sectors or asset classes, and crypto could either benefit or get sidelined depending on where money flows. He didn't specify the trigger, but a shift in liquidity conditions or risk appetite could set it off. For now, he's watching closely.
Decoupling from stocks
Bitcoin's recent lack of correlation with equities caught Visser's attention. If the decoupling holds, it would mark a real change in how digital assets behave relative to traditional markets. For years, bitcoin was basically a high-beta tech stock. A break from that pattern would force asset allocators to rethink their models. Visser sees it as a potential pivot point — but only if the decoupling persists through the next market move.
The key question now is whether bitcoin can hold the 200-week MA through the summer rotation. Visser isn't making a call yet, but he's flagged the level that matters.
