Bitcoin sparked mass long and short BTC liquidations while staying rangebound around $70,000 as analysis predicted a local support retest. Bitcoin (BTC) eyed multiday lows into Tuesday’s Wall Street open as analysis warned that bears were trying to “regain control.” Key points: Bitcoin is setting up a support retest at the bottom of its local range, says analysis. Read more
Analysts are split on whether the drop represents a cycle low or a pause before further downside. Bitcoin’s sharp correction at the start of the month may represent a critical “halfway point” in the current bear market, according to Kaiko Research. Bitcoin (BTC) fell to $59,930 on Friday, marking its lowest level since October 2024, before the re-election of US President Donald Trump, according to TradingView data. The decline suggests the market has moved out of the euphoric post-halving phase and into what Kaiko described as a historically typical bear market period that lasts about 12 months before a new accumulation phase begins. Read more
The Bitcoin Mayer Multiple reached 0.65, echoing the deep bear market conditions of 2022 and sparking debate on whether BTC's real bottom lies at $50,000 or lower. Bitcoin (BTC) has entered the “darkest days” of its bear market correction, based on a classic BTC price indicator hitting near four-year lows. Key takeaways: Bitcoin Mayer Multiple fell to 0.65, matching deep bear market lows in May 2022. Read more