Cryptocurrency analyst Axel Adler commented on the current state of the Bitcoin market, indicating a distinct bearish trend. He highlighted key indicators that may signal further price movements.
Current Bitcoin Indicators
According to the analyst, Bitcoin is trading at $111,000, which is 3% below its fair value of $115,000. The index stood at 43%, which is below the 45% threshold, indicating prevailing market pressure.
Bearish Market Trend
Adler asserts that the market has yet to see sustained bullish signals, with red segments still dominating. However, selling pressure is weakening amid lower volatility.
Prospects and Potential Changes
The analyst emphasized that the balance has gently shifted to the bearish side, but a few hours of coordinated recovery in derivatives markets could lead to a return to neutral or slightly bullish mode. Until then, the market remains in a scenario of technical bounces towards $115,000.
In current conditions, the Bitcoin market remains under pressure, as indicated by Axel Adler's assessment. Significant changes will require a recovery in the derivatives markets.
