"Bitcoin price has started to show clear signs of weakness, and the recent move back below six figures has forced a reassessment of the near-term outlook. With several important technical and on-chain levels now lost, I have recalibrated my base case so that the probability of retesting new all-time highs in the coming weeks has fallen below 50%. That can change quickly if major levels are reclaimed,"
"Bitcoin is already in a sizeable pullback, but buying every decline isn't always the optimal approach outside of a confirmed bull trend. In a bear-market environment, what appear to be attractive dips can still lead to significantly lower prices. Short-term rallies and sharp retracements are typical in downtrending markets, so reacting to data rather than pre-emptively predicting a bottom becomes far more important."
Bitcoin has moved below six figures and lost key technical and on-chain support, lowering the near-term probability of retesting all-time highs to under 50%. Conditions now resemble a shift from trending strength toward a deeper corrective phase unless major levels are reclaimed. Buying every dip is not always optimal outside a confirmed bull trend because bear-market declines can lead to significantly lower prices. Short-term rallies and sharp retracements are common in downtrends, so decisions should follow incoming data rather than attempts to pre-empt bottoms. A small allocation on this dip can make sense while awaiting broader macro confluence.
Read at Bitcoin Magazine
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