Bitcoin (BTC) Has Been Trapped Below Crucial Price Levels For The Past Few Days

Bitcoin (BTC) has been trapped below crucial price levels for the past few days, following its loss of the $85,000 mark last Sunday.

Bitcoin (BTC) has been stuck in a rut. The flagship crypto has been unable to break above crucial price levels despite attempts to do so over the past few days.

Its loss of the $85,000 mark last Sunday has seen it fall to its lowest levels since November 10, 2024, with the apex coin remaining under heavy bearish pressure. But is there anything on the horizon to help bulls regain control?

As the crypto market continues its downturn, lower price targets are being set. But is the Bitcoin bull cycle over?

The crypto market has been on a consistent downtrend since late January, with macroeconomic instability and uncertainty pushing investors to speculate on what the future holds.

With global macro concerns still affecting risk assets, Bitcoin’s inability to reclaim key resistance levels has heightened worries about further downside potential.

But according to a recent analysis by a leading analyst, there are some interesting tidbits of data that could offer some insight into the market.

BTC Sees Heavy Activity At $90K

On X, previously Twitter, top crypto analyst Axel Adler shared that the peak of exchange activity over the past four months occurred at $90K.

This was the highest daily Bitcoin flow into exchanges, which could suggest that this is a critical psychological boundary, with bullish sentiment strengthening above this level and sell-offs increasing when BTC trades below it.

"Biggest 4-hour candle over the past 4 months. We're still in the biggest 24-hour volume cycle since the March 2024 lows.

It's no coincidence that whenever BTC drops below $90K, exchange inflows spike like crazy. $90K is the key psychological boundary.

Above $90K, we saw the HIGHEST daily BTC volume on exchanges, which signifies strong bullish strength.

But whenever BTC closed lower and broke below $90K (like today), exchange inflows went bananas. This signals MASSIVE selling pressure and volatility as traders reacted to the price move.

It's a vicious cycle:

⬆️ Higher lows = Less exchange activity (buyers are in control, funded in fiat).

⬇️ Lower highs = More exchange activity (sellers react, capital flows out of crypto). "

The crypto market has been on a consistent downtrend since late January, with macroeconomic instability and uncertainty pushing investors to speculate on what the future holds.

As the crypto market continues its downturn, lower price targets are being set. But is the Bitcoin bull cycle over?

The crypto market has been on a consistent downtrend since late January, with macroeconomic instability and uncertainty pushing investors to speculate on what the future holds.

With global macro concerns still affecting risk assets, Bitcoin’s inability to reclaim key resistance levels has heightened worries about further downside potential.

But according to a recent analysis by a leading analyst, there are some interesting tidbits of data that could offer some insight into the market.

BTC Sees Heavy Activity At $90K

On X, previously Twitter, top crypto analyst Axel Adler shared that the peak of exchange activity over the past four months occurred at $90K.

This was the highest daily Bitcoin flow into exchanges, which could suggest that this is a critical psychological boundary, with bullish sentiment strengthening above this level and sell-offs increasing when BTC trades below it.

"Biggest 4-hour candle over the past 4 months. We're still in the biggest 24-hour volume cycle since the March 2024 lows.

It's no coincidence that whenever BTC drops below $90K, exchange inflows spike like crazy. $90K is the key psychological boundary.

Above $90K, we saw the HIGHEST daily BTC volume on exchanges, which signifies strong bullish strength.

But whenever BTC closed lower and broke below $90K (like today), exchange inflows went bananas. This signals MASSIVE selling pressure and volatility as traders reacted to the price move.

It's a vicious cycle:

⬆️ Higher lows = Less exchange activity (buyers are in control, funded in fiat).

⬇️ Lower highs = More exchange activity (sellers react, capital flows out of crypto). "