Bitcoin Lingers Near Key Support While Analysts Discuss Its Next Direction

crypthub

2 days ago

Market Overview

Bitcoin has been confined to a narrow $80K‑$90K band, briefly slipping below $90K on Saturday. Recent weeks showed sporadic leveraged flushes, but no clear trend emerged. The price sits near $90,300, with another potential Sunday swing noted.

On‑Chain Support Concerns

Alphractal CEO Joao Wedson flagged a “critical on‑chain support” tied to the Realized Cap Impulse test zone. Historically this area precedes healthy pullbacks, but demand must return now to avoid further declines. Absent fresh capital, the Realized Cap could drop, heightening sell pressure from price‑sensitive holders.

Bearish Consolidation Signals

Analyst Colin describes the pattern as bearish consolidation, expecting a breakdown that could trigger a sharper bounce later. Glassnode’s CryptoVizArt likens current stress to late‑January 2022, with unrealized losses near 10% of market cap. Liquidity is tight, making the market more vulnerable to macro shocks.

Contrasting Bullish Outlook

A minority of voices, like Sykodelic, remain hopeful, citing occasional pumps and the need for lows to hit the low $80K range. They argue the bottoming formation could set up a bullish run into 2026 if patience is maintained. Nonetheless, the consensus leans toward caution amid the ongoing indecision.