Bitcoin bear market not over as BTC fails to reclaim $68K trend line

💡 DMK Insight

Bitcoin’s inability to reclaim a key support zone is raising red flags for traders. The current sentiment suggests that many are bracing for a prolonged bear market, reminiscent of previous cycles. This could lead to increased selling pressure, particularly if Bitcoin fails to hold above critical levels. Traders should keep an eye on the $30,000 mark; a drop below this could trigger further bearish momentum. On the flip side, if Bitcoin manages to stabilize and push back above this level, it might attract buyers looking for a potential reversal. Watch for volume spikes around these price points, as they could indicate whether institutions are stepping in or if retail traders are panicking. The broader crypto market could also feel the impact, especially altcoins that often follow Bitcoin’s lead. If Bitcoin continues to struggle, expect correlated assets to face similar headwinds, making it crucial to monitor market sentiment closely.