Bitcoin (CRYPTO: BTC) has experienced a 2% decline over the last 24 hours, dropping below its bear market resistance band, which has raised concerns among traders. Crypto analyst Benjamin Cowen noted that the current price action resembles previous midterm-year patterns, particularly those observed in 2018 and 2022. He emphasized that Bitcoin's recent rally above the 20-week simple moving average (SMA) near $74,000 lacked the necessary follow-through that typically accompanies genuine trend reversals. Instead, the market appears to be following a familiar sequence where bullish movements are short-lived, leading to a resumption of the downward trend. Cowen predicts potential weakness in the market could extend into mid-year, with significant drops possibly occurring in September or October. Additionally, Ethereum (CRYPTO: ETH) has seen a 4.5% decrease, while XRP (CRYPTO: XRP) has lost 3% in the same timeframe, indicating a broader sell-off across major cryptocurrencies. The 200-week moving average is identified as a critical level to watch for Bitcoin's long-term trajectory.