Satoshi’s street is experiencing a downturn as the recent recovery phase seems to have come to an end. Bitcoin's price is approaching the lower support level of $65,000 with no assistance from the bulls, leading to an increase in selling pressure in the cryptocurrency market. As a result, altcoins are facing significant declines, especially meme coins and AI tokens. This downward trend is expected to continue, keeping altcoins in a descending consolidation phase.

What lies ahead? Will the market fall back into a bearish trend leading up to the Bitcoin halving? Will the halving fail to have a positive impact on the market?

In the past, new traders often fall prey to fear, uncertainty, and doubt (FUD) during market pullbacks. This sentiment could be contributing to the ongoing downward trend, but historically, markets tend to experience a strong rebound. Data from Santiment suggests that traders are more inclined towards buying and bullish sentiments rather than selling and bearish attitudes.

The chart displayed above illustrates the increasing bullish sentiment among market participants, with bearish inquiries remaining subdued. This indicates that the crowd remains optimistic and confident in a rapid market recovery. The best time to buy is when there is slight fear of further decline among the crowd, as this provides an opportunity for larger investors to capitalize on lower prices.

Currently, Bitcoin's price has dipped below $65,500 after failing to maintain levels around $67,800, resulting in a drop below a significant liquidity cluster. This decline in price has triggered substantial liquidity and broken below the support level. Therefore, the current atmosphere of fear among investors could present a favorable buying opportunity.