According to Foresight News, 10x Research tweeted that the current market conditions of Bitcoin can be compared to the death zone of climbing Mount Everest, and the risk is increasing. Although it may not have reached its peak, some indicators show that market momentum has weakened.
Bitcoin prices have been trading in a narrow range for the past two weeks, hitting the upper and lower limits of the range last week before returning to the middle, forming a Doji pattern that indicates market hesitation. Historically, this pattern can signal a continuation of the trend after a short-term correction.
Combining on-chain data and market structure analysis, there is still uncertainty in the future. In addition, South Korea's crypto trading volume has dropped sharply from US$25 billion to US$6.7 billion, and market activity has obviously weakened.
