Intense battle between bulls and bears: Is Bitcoin forming a "golden buying opportunity" again?
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Intense battle between bulls and bears: Is Bitcoin forming a "golden buying opportunity" again?
Bitcoin may have identified a阶段性 bottom, with the market now entering a "consolidation phase" of oscillating accumulation.
Navigating Web3 tides with focused insightsAuthor: Mary Liu, Bitpush News
After several days of dramatic volatility, risk assets reversed overnight.
Bitpush data shows that in the past 24 hours, Bitcoin (BTC) rebounded from a daily low of $81,500 to above $88,000, marking a near 10% intraday gain. Meanwhile, losses in the three major stock indices narrowed, with the Nasdaq closing down only 0.35%.
The Tug-of-War Between Market Sentiment and Macroeconomics
Recent market movements have been indecisive. After rebounding from its February 21 low of $78,000 to as high as $95,000, Bitcoin fell back to around $81,000, reflecting an ongoing tug-of-war between bulls and bears amid unclear market direction. Although former President Trump’s pro-crypto statements briefly boosted market confidence, the impact was short-lived and insufficient to reverse the broader market weakness. Underlying macroeconomic risks remain the "sword of Damocles" hanging over the market.
Ki Young Ju, CEO of CryptoQuant, believes the Bitcoin market may continue to languish until there is a substantive improvement in U.S. market sentiment. Amid regulatory uncertainty, complex and shifting macroeconomic conditions, and persistent investor sentiment swings, it remains uncertain whether Bitcoin can sustain elevated levels over the long term. Before stronger market catalysts emerge, Bitcoin may continue to trade within a wide range. Investors should closely monitor market developments and watch for key signals.
After Losing the $90K Level, Bulls Face a Critical Test
Despite repeated attempts at recovery, Bitcoin and the broader crypto market remain under pressure, failing to establish a sustained upward trend. Analysts have issued warnings: if bulls hope to reverse the downtrend, they must act swiftly to reclaim key levels—otherwise, Bitcoin could face further downside risks.
However, Ki Young Ju argues it may be premature to declare the end of the current bull cycle. On-chain data from CryptoQuant indicates relatively subdued on-chain activity and neutral key metrics, suggesting that despite recent weakness, the overall bullish structure may not yet be broken. Additionally, Bitcoin fundamentals remain strong, with more mining rigs coming online—a sign that major market participants still have confidence in Bitcoin's long-term outlook.
Ju further notes that if this bull cycle were to end now, it would likely not align with the interests of key stakeholders—including early "whale" investors, large mining firms, traditional financial institutions, and even President Trump, who has publicly supported cryptocurrencies. Retail investors, typically late entrants in bull cycles, are unlikely to dominate market trends at this stage.
$85K Becomes Key Liquidity Test—Will History Repeat Itself?
TradingView analysts believe BTC’s more critical near-term support level remains at $85,000—a level that has played a pivotal role in recent weeks.
If Bitcoin continues trading below $85,000 in the coming days, it could trigger broader market selling. A concentrated wave of selling pressure might accelerate price declines and confirm bearish momentum, potentially pushing Bitcoin toward lower support levels.
Quinten noted on X: “Looking back at history may offer some insight.” In the previous bull cycle, Bitcoin experienced seven significant pullbacks of -17%, -17%, -32%, -26%, -28%, -51%, and -25%. Each correction sparked panic and claims that the “bear market” had arrived. Every time prices dropped sharply, headlines proclaimed “Bitcoin is dead.” Yet history proved that Bitcoin ultimately broke through resistance and resumed its upward climb. Indeed, history doesn’t repeat itself exactly—but it often rhymes.
Overall, the $85,000 and $90,000 levels will serve as focal points for near-term battles between bulls and bears. Investors should closely track price action around these levels to assess the market’s next move.
According to analyst MasterAnanda, the current market movement is particularly “interesting” and reveals several noteworthy signals:
Bottom May Be In: Last week, Bitcoin sharply pulled back 28% from its all-time high of $109,000, hitting a low of $78,300 before staging a strong rebound. This V-shaped reversal is often seen as a signal that a short-term bottom has formed, reducing the likelihood of further sharp declines in the near term.
Healthy Pullback Within a Bull Market: After a strong bull run, a moderate correction is normal. Such pullbacks help release accumulated profits and allow the market to build fresh momentum. Healthy adjustments lay the foundation for a longer-lasting bull market.
A Golden Opportunity to Buy the Dip: The current correction provides a rare entry opportunity for sidelined capital. For those who missed Bitcoin’s rapid rise from $85,000 to $95,000, now may be a favorable chance to accumulate at relatively lower levels. Opportunities are always present in the market—the correction phase is an essential part of the accumulation stage within a bull cycle.
Long-Term Bull Trend Remains Intact: The fundamental long-term upward trajectory of Bitcoin has not changed. Historically, Bitcoin tends to regain momentum in the following months, gradually climbing higher. Based on earlier analyst forecasts, Bitcoin still has the potential to target $120,000 next month.
Technical Indicators Offer Support: On the daily chart, the 200-day moving average (MA200) is providing crucial support. The MA200 has long been considered one of the most important technical indicators for gauging long-term cryptocurrency trends. Currently, Bitcoin is forming higher lows, signaling that the bullish trend may soon be reconfirmed.
Market Sentiment and Capital Are Building: This cycle isn't solely driven by U.S. government policy or geopolitical events—it reflects Bitcoin’s inherent cyclical nature. Bitcoin appears ready to enter a new growth phase and could reach new highs in 2025. Moreover, substantial dry powder remains on the sidelines. Once the market stabilizes and turns upward, this capital could flood in, accelerating the next leg of the rally.
In summary, Bitcoin may have already established a short-term bottom and is now entering a consolidation and accumulation phase. While short-term volatility is inevitable, the long-term bull trend remains solid. Investors can take advantage of the current pullback to gradually build positions at relatively low levels, holding patiently while awaiting the market’s ultimate directional breakout.
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