Despite all of this chaos, one important sign indicated that it might not last long. The CDD, a metric used to track long-term holder activity, remained low, indicating that seasoned investors are holding onto their BTC in anticipation of a rebound. Historically, when long-term holders stay inactive during a dip, prices tend to recover.
Bitcoin’s price chart is forming a rounding top pattern, which could shift into an inverse cup and handle—a sign that the bearish momentum may weaken soon. If BTC holds its support level at $93,625, a bounce back above $95,668 could push prices toward $100,000. A successful breach of this level could even drive Bitcoin up to $105,000.
However, if the bearish trend continues, BTC could drop further to $92,005. The key to recovery lies in flipping $100,000 from resistance into support; if this happens, it could mean the current downturn will be only temporary and not usher in a drawn-out bear phase.