HODL mode despite price decline

Analyzing the market further, the chart indicates that Bitcoin holders are mostly in “HODL” mode, showing confidence despite volatility.

There’s a possibility of a significant sell-off, causing a temporary drop then a major rally to restart profit-taking behaviors. Bitcoin holders, especially those with coins older than six months, remain dormant indicating confidence in a rally.

However, a minor dip could push BTC towards the $60K level, where it may bottom out and reverse, signaling that a rally is likely soon. The price action shows that Bitcoin continues to test lower levels in its current downward trend.

BTC is expected to hold this level, but any corrections driven by negative market sentiment (FUD) may push the price below $60K before it rebounds.

Combining this with technical indicators, the outlook for a rally remains strong as Bitcoin consolidates within its support range, preparing for a potential surge.