Bitcoin enters ‘early bear phase’ as $84K becomes key BTC support

💡 DMK Insight

Bitcoin’s profit cycle just flipped negative, and here’s why that matters: This shift indicates a potential bear market for BTC, which traders need to take seriously. Historically, when profit cycles turn negative, we often see increased selling pressure as investors look to cut losses or secure profits. With Bitcoin currently at $89,115.00, this level could act as a psychological support, but if it breaks, we might see a cascade effect leading to further declines. Traders should keep an eye on volume trends and sentiment indicators, as these will provide clues about whether this bear phase is short-lived or the start of a more prolonged downturn. On the flip side, if BTC manages to hold above this level, it could attract buyers looking for a bargain, creating a potential bounce. Watch for key resistance around $90,000. If we see a strong rejection at that level, it could signal deeper bearish sentiment. The next few days will be crucial, so monitor the daily closes closely for signs of reversal or continuation.