Bitcoin has seen its price decline to $76,101, registering a drop of -2.98% in the past 24 hours. This marks the continuation of a five-month corrective phase that is raising concerns among investors about a prolonged bear market.
Recent data from exchanges indicates a lack of strong spot demand, which is limiting the potential for price rebounds and making the market more sensitive to volatility. Despite these challenges, analysts are maintaining a positive outlook on cryptocurrency, viewing the current slowdown as a typical consolidation phase that could precede the next growth cycle.
Market participants have observed that while short-term price fluctuations are prevalent, long-term accumulation remains steady. However, Bitcoin continues to experience selling pressure, with buyers struggling to take control. Recovery attempts have repeatedly faltered around the $80,000 mark, leaving the market vulnerable.
A recent drop of -2.98% underscores the weak buyer follow-through during this corrective phase, with trading volumes showing unevenness across different exchanges. The decline in trading volumes has brought the market to some of its lowest levels since 2024, indicating a notable disengagement from investors.
According to insights from analysts, this cautious market behavior does not reflect panic. Rather, larger holders have decreased their trading activity, and retail participation has also slowed down, creating a selective trading environment. Supporters of cryptocurrency point out that historical trends have shown similar extended pauses before significant price advances, suggesting that the current period may be a precursor to broader adoption.
On the technical side, analysis reveals a series of lower highs following the peak at $126,219, with resistance identified in the $78,900 to $79,235 range, and support around $77,500. Momentum indicators are nearing oversold levels, hinting at a possible short-term bounce, although the overarching trend remains bearish.
Analysts are emphasizing that a resurgence in genuine spot buying will be critical for a sustainable recovery. Historical data suggests that successful rallies are typically supported by rising exchange volumes and consistent engagement from long-term holders. Until such conditions are met, the market will likely continue to be susceptible to liquidations and macroeconomic factors, including fluctuations in the dollar and interest rate changes.
While the current correction tests the resolve of investors, it does not alter the fundamental trajectory of Bitcoin. The network continues to operate securely, with ongoing adoption trends evident, and many view this calm phase as an optimal opportunity for accumulation.
