Main points:
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Bitcoin is trading to less than its last highest levels ever, and barbecue support at the levels it first faced in late 2024.
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It may result from a “deeper decline” before the bulls find momentum to return to the discovery of prices.
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The analysis says that achieving profit lies in the heart of the current resistance.
Bitcoin (BTC) risk “deeper correction” as the next stage of its bull market faces a temporary setback.
Bitcoin profit leads to the bull stops
Analysis warns of prices below $ 100,000 as Cointelegraph Markets Pro and Tradingvief BTC/USD shows 8 % decrease.
Bitcoin returned to less than its highest older levels ever on May 31, where the latest correction is approaching $ 9,000 less than the last standard summit.
After the bulls faced resistance from multiple sources, the onchain indicators soon began to predict the slowdown in the bullish momentum.
In the latest research report sent to Cointelegraph, the Onchain Analytics Cryptoquant platform saw that “some Bitcoin request measures may reach a short -term top, which may mean a temporary stop in the current assembly.”
“Its authors wrote that Cryptoquant estimates of the growth growth in Bitcoin in the last 30 days at 229 thousand, which are near the highest level of demand growth reached in 279,000 Bitcoin in December 2024. ”
“In addition, whale -controlled bitcoin balances increased by 2.8 % during the past month, a pace that precedes the slowdown in the accumulation of whales.”
Cryptoquant added that unrealized profits were, on average, more than 30 % to $ 111,000, which hints to an imminent interruption.
BTC price “deeper withdrawal” expected
As such, market participants, while staying up to a return to discovering prices, are still seeing lower levels to come first.
Related to: How low the price of bitcoin?
“On the daily chart, BTC broke less than the highest level at all times and faces rejection at the same level,” a popular merchant dealer books In part of the last X analysis of it.
“This may seem like the beginning of a deeper correction.”
Mags focused on closing the next weekly candle as a major Bulls test, as the price is still able to restore the old record at $ 104,450 of December 2024 on the weekly time frames.
“If BTC is closed below the horizontal support and resistance line per week, we may see a deeper decrease that may be a reverse and shoulder head before the next stage.”
Trader and analyst Axel Kibar agreed that the return of the bull market “may be late”.
“The bullish interpretation is sound, as long as the price exceeds 73.7 kilos He said X followers about the BTC/USD monthly chart.
Kibar kept his goal in the middle of the period is $ 137,000, one in playing throughout 2025.
Meanwhile, Cryptoquant sees prices stop sooner, with $ 120,000 on the radar as a major profit station.
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
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