‘Bad news for bulls’ – Is Bitcoin’s bear market far from over?

Bitcoin has been consolidating inside $60K-$70K worth vary for about 12 days for the reason that crash on the fifth of February.

Some analysts have referred to as this vary the seemingly market backside that might act as a springboard for BTC’s restoration. Nonetheless, others stay pessimistic. 

In line with famend Bitcoin analyst Willy Woo, the worst could also be removed from over. He cautioned, 

“I’ve dangerous information for the perma bulls. BTC remains to be strengthening its bear pattern. Volatility is a key metric utilized by quants to detect traits.”

He added, 

“BTC entered its bear market when volatility spiked upwards rapidly. Volatility then continues to climb, which means the bear pattern is strengthening.”

Supply: X/Willy Woo 

He continued that the Bitcoin bear market solely weakens when volatility (pink spikes) peaks within the mid- or late-bear market part. 

The macro backside comes on the second or third smaller volatility spikes. In different phrases, the market was not but out of the woods regardless of holding above $60K.  

Woo added {that a} bearish transfer in world equities would usher BTC into the second part of the bear market, whereas the ultimate third part would occur when capital outflows peak. 

Weak BTC demand, however Choices merchants nonetheless eye $75K

Glassnode shared an identical stance, citing accumulation throughout latest drawdowns and previous market bottoms. The analytics agency noted that the November 2025 drop and post-LUNA crash and FTX implosion had been met with large accumulation (darker shades).  

When the Accumulation Pattern Rating approaches 1 (darker shades), many gamers are shopping for aggressively on common. 

Supply: Glassnode

Nonetheless, if the rating strikes nearer to zero or brighter shades, then large gamers are dumping. For a convincing market backside, the $60K degree or any additional dip ought to entice aggressive shopping for represented by darker shades of shade.  

Which means, one other leg right down to $65K or beneath is probably not dominated out, as Woo projected the bear market part may take months to play out. 

Nonetheless, within the brief time period, Possibility merchants had been more and more leaning bullish, eyeing a breakout above the $60K-$70K vary with a direct goal of $75K. 

In an announcement, Aurelie Barthere, Principal Analysis Analyst at Nansen, instructed AMBCrypto that Possibility merchants had been much less bearish than they had been ten days in the past.

She added, 

“Over the previous seven days, calls have dominated put shopping for, significantly amongst block trades that are usually positioned by extra skilled buyers. The dominant name strike is $75K, suggesting that merchants favor positioning outdoors the $60K–$70K buying and selling vary.”

 Calls are bullish bets whereas places underscore demand for hedging towards draw back danger (bearish bets). 

In the long run, nevertheless, Barthere maintained {that a} sustained restoration might stay unsure until the CLARITY Act, U.S. midterm election outcomes, and the macro panorama favor broader risk-on sentiment. 

Ultimate Abstract 

• Willy Woo warned that the bear market has solely begun and nonetheless has to undergo the second and third phases earlier than actually reaching a backside. 
• Glassnode echoed comparable sentiments, however Choices merchants had been contrarians and eyed a possible breakout to $75K within the close to time period.