Bitaigen Research 
Bitcoin price drops are easing, with a brief stabilization and technical support appearing, yet the overall trend remains bearish and selling pressure has not fully dissipated. Recent trading volume has declined and volatility has narrowed, leaving the market largely in a wait‑and‑see mode.
10x Research notes that the compression of volatility, ETF liquidity improvement and the fading Coinbase discount “are not characteristics of a market accelerating into a new round of decline.” The firm believes that Bitcoin’s recent price action may indicate that selling pressure is beginning to ease, but there is still no clear sign of a bear‑market reversal.
Key Technical Indicators
- 20‑day moving average: Bitcoin is reclaiming the moving average near $68,500.
- Bollinger Bands: Bandwidth is tightening, suggesting the conditions for a potential range expansion are forming.
- RSI and Stochastic: Both are trending upward, showing a bullish divergence; momentum is stabilizing within the down‑trend structure.
According to TradingView, Bitcoin briefly rose above $70,000 on Coinbase’s order book during Monday night trading, but by the time of writing it had slipped back to $68,400.
Analysts point out that the $62,500 level held steady across three separate tests, reinforcing its status as a significant support zone.
*Bitcoin and daily stochastic trading. Source: 10x Research*
From both technical and funding perspectives, we dissect the key factors behind Bitcoin’s recent slowdown in decline and assess whether the bear market is still ongoing. The article blends mainstream research viewpoints with real‑time on‑chain data to give investors a clearer basis for judgment and to help spot possible turning points.
Tactical Shift, but No Structural Reversal
Commentators summarise: “The evidence points to a meaningful tactical shift, but a structural shift has yet to be confirmed.” The specifics are:
- Volatility compression – market price swings have narrowed.
- ETF liquidity enhancement – more capital is flowing into exchange‑traded funds.
- Coinbase discount disappearance – the fee advantage on Coinbase is no longer pronounced.
“Nevertheless, within our broader allocation framework we still categorize Bitcoin as being in a bear‑market state, meaning any bullish exposure remains tactical rather than structural.”
Arctic Digital research head Justin DeAnson told Cointelegraph that recent macro‑economic and crypto‑specific events have pushed prices down, but the market has moved from panic to a more measured stance, entering a consolidation, accumulation or at least a range‑bound phase.
“Even with tax considerations, war outlooks and the previously disappointing expectations of rate cuts, seller pressure appears muted, which seems to indicate that sellers are getting tired, or that buyers are already averaging in at these levels.” *(Note: cryptocurrency gains may be taxable under the laws of your jurisdiction.)*
Extremely Negative Funding Rates Triggered a Price Bounce
Bitrue research lead Andri Fauzan Adziima explains that Bitcoin’s downtrend is losing momentum primarily because funding rates have turned sharply negative, making perpetual futures short positions overly crowded and causing a classic short‑squeeze. The price rebounded strongly from the $63,000 low, forcing many shorts to be liquidated and temporarily easing selling pressure on a tactical level.
A negative funding rate means shorts must pay longs to maintain their positions. Adziima adds that, although a short‑term bounce has occurred, there is still no definitive trend reversal; structural inflows remain insufficient, macro catalysts are lacking, and the overall downtrend continues. Liquidity ahead is fragile and resistance remains unstable.
The above provides a comprehensive analysis of Bitcoin (BTC) price‑decline deceleration while the bear market process still advances. For more material on whether Bitcoin’s drop is braking and when the bear market might flip, follow other articles from Bitaigen (比特根).
*For U.S. readers, please use Binance.US or other compliant platforms when accessing U.S.‑based services.*
Related Reading
- Bitcoin 2026‑2030 Price Forecast: Trends, Factors & Outlook
- VanEck CEO Says Bitcoin Is Forming a Bottom Near End of 4‑Year Halving Cycle
- Bitcoin MVRV & BOP Signals: PlanB's View on Upside Potential
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⚠️ Risk Disclaimer: Crypto prices are highly volatile. This is not investment advice.
