Bitcoin is in a phase of absorbing liquidity, a crucial step before any major price movement. Analysts suggest a reversal may occur under current conditions.
Potential Bottom at $83K-$87K
According to market projections, Bitcoin’s ultimate bottom in this cycle could lie between $83,000 and $87,000. This range is seen as a necessary correction before Bitcoin can resume its bullish trajectory. Historically, major bottoms in Bitcoin’s price action have been followed by sharp recoveries, driven by renewed buying pressure.
Bearish Sentiment Could Signal a Reversal
The current market sentiment appears extremely bearish, with many traders expecting further downside. However, excessive bearishness often precedes a market turnaround. When sentiment reaches a peak level of pessimism, it suggests that selling pressure is close to exhaustion, making way for a potential rebound.
Investors should monitor key support levels and be prepared for Bitcoin to regain upward momentum soon.
