Bitcoin Stalls at $90K: Is It a Mild Market Correction or a Stealthy Bear Market?

Bitcoin (BTC) is currently motionless around the $90,000 mark, leading to discussions about the future trajectory of the market. Analyst Axel Adler Junior suggests that BTC is in an unusual state, experiencing a correction but not yet in a full bear market. He explains that only 12% of the supply is in loss, while 88% of coins remain profitable, indicating strong resilience amongst holders. However, this strength poses a risk of accelerated profit-taking if negative triggers occur. Adler sees Bitcoin as balancing between two potential paths - a mild correction or a possible bear market. Crypto analyst Ali Martinez adds that a potential bearish flag formation could signal a deeper correction, with a technical target near $70,000, representing a drop of over 22% from current levels.