Bitcoin has slipped below the $100K mark for the first time in 10 days, sparking a wave of bearish sentiment across the market. The drop has fueled uncertainty among investors, who are closely watching the next move. However, many analysts view this pullback as a healthy retrace, potentially setting the stage for Bitcoin’s next leg higher in the ongoing bullish cycle.
Axel Adler, a prominent crypto analyst, shared key insights on X, shedding light on the current state of the market. According to Adler, Taker order bearish pressure stands at $1.6 billion over the past 24 hours—a notably high level not seen in the last month. This indicates significant selling activity but also reflects high trading volume, suggesting that market participants are actively positioning for what could be an important phase for Bitcoin.
Despite the bearish sentiment, many experts believe the retrace is necessary to build momentum for the next rally. The $96K-$100K range is now a crucial zone to watch, with bulls needing to reclaim $100K quickly to reignite optimism. A strong bounce from these levels could validate the retrace as a consolidation phase rather than a trend reversal, keeping Bitcoin on track for further gains.
Bitcoin Faces Volatility: Healthy Retrace Below $100K?
Bitcoin’s price has been on a rollercoaster for weeks, with volatility and uncertainty dominating the market narrative. After reaching a high of $109K, the cryptocurrency has dipped below the $100K mark, sparking debates about whether this is the cycle’s top or just a temporary pullback. While some analysts suggest Bitcoin may have peaked, others argue this correction is a healthy retrace that could fuel the next leg up.
Prominent crypto analyst Axel Adler weighed in on the situation, sharing insights on X. Adler revealed that Taker order bearish pressure has surged to $1.6 billion over the past 24 hours—an unusually high level for the past month. The last time bearish pressure was this elevated was on January 9, when it peaked at $1.8 billion. Despite these figures, Adler remains optimistic, noting that everything appears to be under
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Author: Sebastian Villafuerte
