Compressed volatility, strengthening ETF flows and a diminished Coinbase discount “are not characteristics of a market accelerating into a fresh leg lower,” said 10x Research.
Bitcoin’s recent price behavior could indicate that crypto selling pressure has begun to wane — though analysts warn there are not yet signs of a reversal from a bear market.
“Bitcoin failed to accelerate lower on risk-off headlines, a signal that downside pressure may be losing momentum,” said 10x Research in a market update on Tuesday.
The analysts noted that Bitcoin (BTC) was reclaiming the 20-day moving average near $68,500, and Bollinger Bands were tightening, with conditions “forming for potential range expansion.”
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