Bitcoin Struggles Below $90,000 Amid Market Uncertainty
- Bitcoin remains below the $90,000 mark, indicating a lack of bullish momentum.
- Analysts express skepticism about a potential bear market extending into 2026.
- Axel Adler notes a decline in Bitcoin’s “Supply in Profit” from over 19 million BTC to approximately 13.5 million BTC.
- The gap between the short-term and long-term moving averages is narrowing by about 28,000 BTC per day.
- A potential bullish cross could form between late February and early March if current conditions persist.
Bitcoin’s price struggles reflect a cautious market with analysts wary of an extended bear trend into the future. The “Supply in Profit” metric suggests that despite recent declines, there might be room for stabilization if key levels are maintained.
If Bitcoin can maintain its current price level or higher, it may lay the groundwork for a renewed bullish phase later on, as indicated by the narrowing gap between moving averages. (Source)
