Bitcoin Struggles for Direction

Low Volatility, High Uncertainty

Bitcoin is teetering on the edge between a bearish pullback and a neutral consolidation. Last week it dipped into bearish territory. This week it’s back to neutral. But in both cases, it’s been dancing right on the boundary.

That’s because while price has held above $80K, broader momentum (on-chain, equity, and ETF flows) has been fragile. The result is a market regime that can flip on a dime.

So where are we headed next, and more importantly, has the peak in downside risk already passed?

Let’s dig in.

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Bitcoin Struggles for Direction

The Takeaway

Bitcoin is hovering between a bearish pullback and a neutral consolidation, with price stabilizing above $80K but fundamentals still weak. Volatility has dropped sharply since the recent macro-driven spike, reducing downside risk. While the outlook remains uncertain, a more balanced risk-reward profile is emerging as the market cools.