The Bitcoin market is sending a complex mix of signals, leaving traders on edge as a healthy long-term cycle clashes with signs of immediate spot market weakness.
The Bitcoin market is sending a complex mix of signals, leaving traders on edge as a healthy long-term cycle clashes with signs of immediate spot market weakness.
While on-chain data suggests the bull market is simply extending, spot buyer conviction is fading. The deciding factor now hinges on a historical chart pattern currently retesting a critical support level.
According to analysis from CryptoQuant, the current Bitcoin cycle is lengthening. Unlike the rapid surges of the past, this phase has a more gradual slope, driven by the influence of institutional adoption, spot ETFs, and even sovereign-level interest.
Besides, whenever capital rotates toward altcoins, Bitcoin’s upward trajectory briefly pauses, a pattern that has repeated in recent months.
Glassnode reports that Bitcoin’s spot market bias has reset. In April, buyer dominance , but today the Cumulative Volume Delta across major exchanges has turned neutral. This shift reveals fading conviction among spot buyers near $111,000.
Hence, without fresh inflows, Bitcoin remains vulnerable to short-term weakness. Still, key support between $105,000 and $107,000 provides a strong foundation. Resistance remains firm at $115,000 to $118,000. Sustained accumulation above $110,000 is viewed as critical for momentum to rebuild.
Merlijn The Trader has emphasized Bitcoin’s tendency to follow a repeated pattern throughout this bull cycle: rejection, breakout, retest, and sharp continuation. The $110,000 level is now being retested.
If it holds, the historical setup implies that the next move could be vertical, targeting levels above $130,000. Moreover, the consistency of this behavior through past cycles reinforces confidence among traders who buy during retests.
