Bitcoin Is Down Bad, But Hasn't Yet Hit Its 'Ultimate Bear Market Bottom': Analysts

💡 DMK Insight

Bitcoin’s 45% drop since October is a red flag for traders: it signals ongoing bearish sentiment. The report from CryptoQuant suggests that we haven’t hit the bottom yet, which means traders should brace for more volatility. This decline could trigger further selling pressure, especially if key support levels fail to hold. Watch the $25,000 mark closely; a break below could accelerate downward momentum. On the flip side, if Bitcoin manages to stabilize above this level, it might attract bargain hunters looking for a potential reversal. Keep an eye on broader market trends as well—if equities continue to struggle, crypto could follow suit. In the coming weeks, monitor trading volumes and sentiment indicators to gauge whether this bearish trend is losing steam or if we’re in for a longer downturn. The next few days could be crucial in determining Bitcoin’s trajectory.