According to CryptoPotato, on-chain analyst Ali Martinez raised the possibility of further declines, stating that Bitcoin (BTC)'s price structure is similar to when it bottomed in 2022. He analyzed, "If it faces resistance in the $80,000-$82,000 range, it could drop below $55,000," and it was found that whale sell walls are concentrated in that range. Indeed, BTC has recently faced repeated 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.
