Bitcoin traders maintained intense focus on the weekly closing price as BTC demonstrated minimal price movement throughout the trading period. Market analysts issued sobering warnings that the current bullish cycle could face premature termination should critical support levels fail to hold. Technical indicators point toward a potential fourth ‘death cross’ formation in Bitcoin’s market cycle history, a technical pattern that occurs when the 50-day moving average crosses below the 200-day moving average. This bearish signal, last observed when Bitcoin traded near the $102,000 threshold, has historically preceded significant price corrections. Market participants closely monitored key resistance and support levels, with many institutional investors adopting cautious positions amid the uncertain technical outlook. The prevailing market sentiment suggests that failure to maintain current price structures could trigger substantial liquidations across derivative markets. Veteran traders emphasized the importance of the weekly close in determining short-to-medium term price direction, noting that historical patterns indicate potential volatility expansion following extended consolidation periods.
