Bitcoin trades in a tight demand zone that formed in 2024, but previous bear market data suggest the channel will break and lead to new lows.Bitcoin’s (BTC) marketBitcoin trades in a tight demand zone that formed in 2024, but previous bear market data suggest the channel will break and lead to new lows.Bitcoin’s (BTC) market
Bitcoin trades in a tight demand zone that formed in 2024, but previous bear market data suggest the channel will break and lead to new lows.
Bitcoin’s (BTC) market structure shifted into a corrective phase after losing a key onchain valuation level in late January.
Glassnode data shows that BTC's price is compressing within a 2024-era demand zone as liquidity conditions soften. At the same time, BTC's supply is steadily shifting into long-term, retail-linked wallets while exchange activity has cooled.
This mix of technical and onchain data, along with the current capital rotation, may shape the next steps for Bitcoin price.
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