Bitcoin’s current price behavior is starting to resemble the late stages of previous bear markets.
According to analyst Murphy, BTC has failed to reclaim the $67,900 level for nearly two months. This level is important because it represents the average cost basis of investors who have held Bitcoin for less than three months. When price stays below that zone, short-term holder pressure tends to remain elevated.
What caught my attention is the similarity with the final phases of the 2018 and 2022 bear markets. In both cases, Bitcoin spent months moving in a relatively tight range before a major external event triggered a sharp move.
If this pattern continues, the market may remain range-bound until a catalyst breaks the current structure. I’m watching both macroeconomic developments and crypto-specific risks closely.
#Bitcoin #BTC #Crypto #BinanceSquare
$BTC
According to analyst Murphy, BTC has failed to reclaim the $67,900 level for nearly two months. This level is important because it represents the average cost basis of investors who have held Bitcoin for less than three months. When price stays below that zone, short-term holder pressure tends to remain elevated.
What caught my attention is the similarity with the final phases of the 2018 and 2022 bear markets. In both cases, Bitcoin spent months moving in a relatively tight range before a major external event triggered a sharp move.
If this pattern continues, the market may remain range-bound until a catalyst breaks the current structure. I’m watching both macroeconomic developments and crypto-specific risks closely.
#Bitcoin #BTC #Crypto #BinanceSquare
$BTC
