A prominent crypto analyst has proposed a potential new market structure for Bitcoin as its price rallies. The analyst highlights that Bitcoin has recently fallen below its 200-day moving average (MA200), a pattern observed in past bear cycles. Historical trends from 2013–2014, 2017–2018, and 2021–2022 suggest that such a breakdown often leads to a correction followed by a relief rally. The analyst warns that failure to reclaim the MA200 could indicate a prolonged bear market or accumulation phase, while a successful reclaim might signal the onset of a new bull cycle. Additionally, the analyst speculates that if the 4-year cycle theory is invalidated, a new market structure could emerge by 2026.