According to CryptoPotato, on-chain analyst Ali Martinez raised the possibility of further decline, stating that Bitcoin (BTC)'s price structure is similar to when it formed a bottom in 2022. He analyzed that "if it encounters resistance in the $80,000-$82,000 range, it could fall below $55,000," and it was observed that whale selling walls are concentrated in that range. In fact, BTC has recently been repeatedly facing resistance near $79,000, showing a slowdown in upward momentum. Furthermore, on-chain data also shows that whales have recently transferred over 10,000 BTC (approximately $770 million) to exchanges, which is typically interpreted as a pre-selling stage. The market is also raising the possibility of a 'bear market rally' pattern, where prices decline again after an interim rebound, being reenacted.
