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Analysis: Bitcoin's uptrend may be nearing an early end, with the price target potentially falling to $95,000

By: theblockbeats.news|2025/08/12 09:21:57

BlockBeats News, August 12, according to Cointelegraph, the upward trend of Bitcoin faces the risk of an early end, with the market showing a target price expectation below $100,000. The latest market analysis released by traders such as ZAYK Charts on Tuesday warned that Bitcoin is currently in a continuous "Distribution Phase."

ZAYK Charts believes that Bitcoin could drop to $95,000, a level that has not been touched since early May. BTC has previously experienced the classic "Mark-Up" phase from a long-term low rebound and has now entered the "Distribution" phase, which is usually a reversal zone of an uptrend.

Since November last year, the $92,000 to $95,000 range has played a significant role in Bitcoin's price movement, serving as both support and resistance levels amidst intense market volatility.

Trader Mikybull Crypto described this week's Bitcoin breakthrough above $122,000 followed by a pullback as "ugly." He stated that BTC has re-entered its previous range-bound action, with altcoins being the primary beneficiaries.

Within one week of the implementation of the Hong Kong Stablecoin Regulation, the size of the local OTC trading market has decreased by approximately 32.94%.

Whale AguilaTrades's ETH long position has increased to 10,000 ETH, equivalent to around $43.07 million