Despite the recent rebound that pushed the price to $76,000 on Wednesday, the Bitcoin bearish trend seems to be consolidating according to the latest network data and technical analysis. Industry analysts, observing market behavior after the 15-month low reached on Tuesday, warn of a possible deep correction in the coming weeks.
After surpassing $76,900 in a 4.5% recovery, the BTC/USD pair confirmed a head-and-shoulders technical pattern on its weekly chart, signaling significantly lower price targets ahead. By breaking the neckline of this formation at $82,000, a theoretical target has been projected that could drag the price toward $52,650, which would represent a 31% drop from current levels and a 58% cumulative devaluation from its all-time highs.
Technical weakness and projections toward critical supports
Various experts, such as analyst BitcoinHabebe, argue that the descent toward $60,000 is evident given the current macroeconomic headwinds, which pressure the price structure upward. Similarly, the confirmation of a bear flag on the daily chart, occurring after the loss of vital support at $78,000, suggests that the next liquidity magnet is located at $65,500.
From a fundamental analysis perspective, the Puell Multiple, responsible for monitoring miners’ revenue against their annual average, remains in the discount zone, reinforcing the thesis of an imminent capitulation. This metric has remained in that range since November 2025, suggesting that, being only halfway through the historical recovery cycle, the Bitcoin bearish trend could extend for additional months.
Why do mining indicators suggest a prolonged negative cycle?
Furthermore, the steady decline in miner reserves, combined with a 12% drop in the network hash rate, reflects unsustainable financial pressure for small entrepreneurs. Therefore, if the asset’s value continues its decline, the need to cover operating expenses would force these actors to liquidate their holdings on a massive scale, exacerbating the market’s downward movement and generalized volatility.
On the other hand, the inflow of assets to exchanges has raised significant alarms, with more than 15,000 BTC sent to Binance in a single day, which fuels fear and widespread uncertainty. This increase in supply available for sale suggests that investors are looking to de-risk given the fragility of current support levels, preparing for a scenario of greater panic.
The leading cryptocurrency thus faces a structural challenge where, despite recovery attempts, growing inventory on exchange platforms could stall any significant price advancement. Consequently, while the market tries to establish a solid base above $74,000, the absorption of this excess supply will be decisive to avoid a retreat toward lower accumulation zones.
