Bitcoin, currently priced around $64,000, is experiencing a challenging phase due to potential downward pressure from panicked retail investors, often referred to as "dumb money". Data reveals that about 5.45 million addresses hold 3.03 million BTC between $64,300 and $70,800, forming a significant supply barrier.

Next week's key economic indicators, including the U.S. GDP growth rate and PCE inflation data, are expected to bring volatility to the market. Despite bearish trends, a significant portion of Bitcoin holders remains in profit, indicating potential further sell-offs.

However, over the past 30 days, more than 107,000 BTC have exited crypto exchanges, suggesting a potential supply crunch. The recent Bitcoin halving event has also limited new BTC creation, which could help stabilize prices. Some analysts believe Bitcoin could reach $100,000 by year-end if the Federal Reserve cuts rates.

Despite current challenges, there is optimism for Bitcoin’s future. Analysts suggest watching for weekly close signals that indicate a move towards $90,000. While the exact timing is uncertain, many believe Bitcoin’s breakout is imminent and will occur in a spectacular fashion.