In this video I break down the latest Bitcoin price action to determine whether we are entering a new leg lower or if a corrective bounce is still on the table. By analyzing the current market structure through an Elliott Wave lens, I evaluate the validity of the ongoing bear market thesis and identify the critical price levels that will define the direction for the coming days.
You will get an overview of the key support and resistance zones that are currently keeping the price in a range. I explain why the recent upward moves appear corrective rather than impulsive and discuss what specific patterns would be needed to confirm a larger bounce or a potential continuation of the decline. Video by More Crypto Online.
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Bitcoin (BTC) is trading around $62,450 to $62,540, representing a roughly 2.1% to 2.3% decline over the past 24 hours as global market volatility hits risk assets.
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Bitcoin Insights Today
-Tech Sector Contagion: A major, multi-day global sell-off in AI and semiconductor stocks has dragged down broader risk assets, causing institutional investors to reduce digital asset exposure.
-Massive Liquidations: Over $660 million in leveraged crypto positions were wiped out within 24 hours, triggering a cascade of forced selling that accelerated the price drop.
-Record ETF Outflows: U.S. spot Bitcoin ETFs logged a massive 30-day net outflow of more than $6 billion, signaling a deep period of institutional de-risking.
-Geopolitical Uncertainty: Investors are maintaining a highly cautious stance as they monitor ongoing headlines and uncertainty surrounding U.S.-Iran negotiations.
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