Bitcoin bear market not 'over already' as price rejects at $68K trend line

💡 DMK Insight

Bitcoin’s inability to reclaim key support signals deeper bearish sentiment among traders right now. The current market environment reflects a cautious outlook, with many traders drawing parallels to previous bear cycles. This hesitation is evident as Bitcoin struggles to break above critical levels, which could lead to further downside if the trend continues. If the price remains below established support zones, we might see a cascade effect, impacting altcoins and related assets like Ethereum. Here’s the kicker: while many are fixated on historical patterns, it’s worth questioning whether this cycle will play out as expected. The market dynamics have shifted, and institutional involvement could alter traditional bear market behaviors. Keep an eye on Bitcoin’s price action around its recent lows; a break below could trigger stop-losses and exacerbate selling pressure. Conversely, any unexpected bullish momentum could shake off the bears, but that seems unlikely in the current climate.