The Bitcoin market is facing one of its tensest moments in recent months. After falling to levels not seen since April, global sentiment has turned extremely bearish. However, while selling pressure dominates, several indicators show that we are approaching areas historically associated with deep accumulation zones and long-term opportunities.

Four consecutive weeks of massive sales in ETFs: the institutional blow

Bitcoin spot ETFs in the U.S. accumulate $1.45 billion in outflows this week, marking a full month of consecutive withdrawals.

Only on Thursday, $903 million in outflows were recorded, the second highest figure since the launch of the ETFs.

This indicates that institutional demand is weakening, reinforcing bearish pressure.

Record liquidations: $1.96 billion in 24 hours

The retracement also triggered a wave of liquidations:

📌 $1.82 billion in total BTC liquidations this week

📌 92% of them were long positions

📌 402,738 traders liquidated in just 24 hours

This excess bullish optimism (over-leverage) created the perfect scenario for a deep bearish sweep.

The market is in panic: Fear Index at 14

The Crypto Fear & Greed Index fell to 14, one of its lowest values since February.

Historically, extreme fear zones anticipate the best entry areas for long-term investors, although not necessarily an immediate fund.

Weakened technical structure: keys to understanding the current moment

According to Glassnode and K33, the technical structure has changed drastically:

BTC fell below $97,000–$95,000, an area that now acts as resistance.

He also lost the short-term fork cost base (STH) at $109,500.

The average cost of the ETFs is at $89,651, a key level that BTC has already pierced.

This implies that:

👉 Almost all recent investors are at a loss, a typical symptom of deep capitulation phases.

What's next? The levels that will decide the fate of BTC

The current drop has already accumulated over 34%, similar to previous historical retracements.

If the bearish pressure continues:

🧨 Critical support 1: $80,000 (psychological threshold)

🧨 Critical support 2: $74,433 (average cost of MicroStrategy)

🧨 Final key support: $71,769 (major weekly support)

A break below $74,433 could trigger speculated sales in MicroStrategy, amplifying fear.

If BTC bounces from this area:

📈 First resistance: $85,000

📈 Major resistance: $95,000–$97,000

Breaking through this last band would be the earliest signal that the market begins to stabilize.

And what does this mean for investors?

Although the short term remains bearish, this extreme phase often represents the territories where:

✔ Future macro floors are being formed

✔ Strong hands are entering

✔ The best opportunities for smart accumulation are generated

In markets like this, discipline and a clear strategy make the difference between acting in panic or seizing moments that only appear a few times in each cycle.

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