Market analysts warn that Bitcoin’s recent price stabilization may be a prelude to further declines. On-chain data indicates sustained capital outflows from the asset since November. Despite a potential near-term rise, experts view higher price levels as opportunities to establish bearish positions, citing geopolitical uncertainty and fragile macroeconomic conditions.
Bitcoin has struggled to reclaim prices above $70,000, consolidating between $66,000 and $68,000 last week. A slight 2% uptick on Monday saw it trade above $67,700, but analysts caution that geopolitical factors are undermining bullish confidence.
On-chain analyst Willy Woo stated that capital held in Bitcoin has been trending downward since November. He noted that legacy valuation models point to a potential bottom between $46,000 and $54,000, but warned historical patterns are based on only four prior bear markets.
Woo explained these models depend on a broader “secular” uptrend in global risk assets. “If that macro backdrop weakens or breaks down,” he warned, Bitcoin could face a deeper and longer bear market.
Analyst Doctor Profit has reiterated a bearish outlook, dismissing the recent rally as temporary. He acknowledged Bitcoin could still rise toward the $79,000-$84,000 range, but views this area as an entry point for short positions.
Doctor Profit does not consider the market to have bottomed and continues to view Bitcoin as being in an active bear phase. He separately identified a likely bottom range between $35,000 and $45,000.
