The Bitcoin market is currently navigating a tight demand zone that initially formed in 2024, but historical data from previous bear markets indicate that this channel is likely to break, ultimately resulting in the establishment of new lows. According to data from Glassnode, despite the resilience of Bitcoin holders in defending their BTC positions, the bear floor is situated approximately 20% lower than current levels. This suggests that while holders are putting up a strong defense, the overall market sentiment and historical trends may eventually lead to a downturn. As the market continues to trade within this tight demand zone, investors and analysts are closely watching for signs of a potential breakout or breakdown, which could significantly impact the future trajectory of Bitcoin’s price.
