🔴｜Is it the end of the bull market now? BTC Market Analysis

————————————————————

Price changes are just results; at a deeper level, they reflect a collective re-evaluation of the global asset anchoring structure and the historic return of non-sovereign assets emerging from institutional cracks. Currently, it has been a year since BTC's last halving, and this cycle is showing a distinctly different trend compared to previous ones.

Unlike previous cycles where explosive increases followed halvings, BTC's current rise has been relatively modest, increasing only by 31%, while in the last cycle, the increase during the same period was as high as 436%. Meanwhile, metrics for long-term holders (such as the MVRV ratio) show a sharp decline in unrealized profits, indicating that the market is maturing and upward potential is being compressed.

Overall, these changes suggest that BTC may be entering a new era characterized not by parabolic peaks but rather by progressive growth driven more by institutional involvement.

📍So let's return to the chart: why has BTC been stuck at 94,000 for five days, unable to move up or down?

Looking back at the previous chart, we can see that the 94,000 position served as a support level in the earlier phase, where it previously tested this level multiple times before rising to 100,000. Could this position now become a new support-resistance flip, where the prior support becomes the current resistance?

Additionally, in recent days, there has been continuous inflow into ETFs, with Bitcoin ETFs seeing a net inflow of $3 billion in the past week! This atmosphere seems to have suddenly returned to last October.

If you are trading short-term, you must clearly identify where the current price stands. As the saying goes, the closer we get to the upper resistance boundary, the more we should short, and the closer we get to the lower support, the more we should long. If we break through, we should stop-loss and exit.

In the middle range, where it neither goes up nor down, we do not recommend taking positions.

So let's allow the situation to develop for a while, waiting for the right side to provide an answer, and we can long along a support level.