The integration of on-chain data with market structure indicates that Bitcoin is currently in a vulnerable technical state, increasing the likelihood of a deeper corrective move towards lower demand zones.
1. Technical Review
Bitcoin has lost bullish momentum after failing to reclaim key resistance at $92,000, which marks the upper boundary of the current trading range. The price has now dropped below the Point of Control (POC) and is facing prolonged downward pressure from key moving averages.
Additionally, the RSI has breached its previous uptrend, indicating a weakening of buyer strength and deteriorating momentum. From a market structure perspective, bears remain in control as long as the price trades below the $90K–$92K region.
The next major target on the downside is in the high demand zone between $70,000 and $72,000, where heightened buyer interest is expected.
2. Insight on the chain
Data on Binance's net flows for the week signals caution. According to the latest data, Bitcoin experienced a significant influx on Binance last week. The net flow of BTC was approximately $1.43 billion.
Positive net exchange flows are typically interpreted as an increasing selling risk, as market participants move BTC to exchanges in preparation for a potential distribution.
Conclusion
The combination of a technical breakthrough below the $90K level and the introduction of BTC worth $1.4B on Binance significantly increases the likelihood of a corrective move towards the $70K–$72K demand zone.
Traders should closely monitor price behavior around the current POC, as a failure to return to this level would further confirm the continuation of the bearish trend.
News is for informational purposes only and should not be considered investment advice. Please read carefully before making decisions.
