Bitcoin: Downward Trend Continue? Focusing on Trendline Support

Bitcoin's price may fall more in the next days due to unfavorable market conditions. However, multiple support ranges remain to block recent bearish movements, preventing a further decline.

Bitcoin's Next Phase Depends on Trendline Support
Bitcoin price behavior is uncertain as crypto specialist and trader Rekt Capital outlines a crucial trendline support as the main defense against additional losses. Due to market volatility, Rekt Capital analyzes BTC's future phase.

According to Rekt Capital's black line chart, BTC is struggling to maintain the $101,000 range low. However, it keeps testing the blue diagonal line at $99,158 as support.

As long as this blue diagonal maintains a support point, price drops into the lower $90,000s may be stopped. As bear season rumors grow, a breach below support might change market dynamics.

Bitcoin dominates the crypto industry despite a recent price meltdown. Rekt Capital said BTC's dominance is rising despite its price fluctuations.

A surge in BTC's sovereignty suggests investors are preferring it as a safer asset during tumultuous situations. The expert said Bitcoin season will continue till further notice, with traders seeking stability in BTC amid bad times.

BTC still dominates the market, but altcoins will ultimately gain ground, triggering the much-anticipated altcoin season.

Massive Funds Into BTC To Support Price Rise

Despite declining prices, investors are still interested in BTC, as seen by significant money flows in previous Spot Bitcoin ETFs. Capital inflows reached $40 billion, a record high, according to network economist and author Timothy Peterson.

Data shows that Bitcoin spot ETF monthly investments have grown to $5 billion since October. In particular, exchange product net fund flows increased following a month of stagnation.

The analyst expects a $10,000–$15,000 monthly BTC price gain if capital inflow continues to expand. This development reflects increased demand for BTC financial products.

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