The Bitcoin market appears to be facing a challenging end to the year, with the cryptocurrency set to record one of its weakest fourth-quarter performances in recent times. However, analysts are optimistic that relief may come in 2026, particularly in the first quarter, as recent evaluations indicate that the price structure of Bitcoin suggests a deeper correction may be forthcoming.
A recent post on the X platform by quant trader CryptoOnchain provided insights into Bitcoin’s current pricing dynamics. The analysis points to a bearish outlook as selling pressure remains a significant factor in the market. Notably, Bitcoin’s price is currently hovering around a key level termed the Point of Control (POC). This is identified as the price level that has seen the most trading activity in a specified time frame, serving effectively as a crucial support or resistance zone.
CryptoOnchain highlighted that Bitcoin’s inability to swiftly reclaim its previous highs increases the chances of the price dipping below its POC, potentially targeting the $70,000 to $73,000 range. This area is significant as it marks the peak of the last cycle, suggesting it may serve as a critical “support flip,” where buyers could step in more aggressively to stabilize prices.
Further supporting this analysis, the trader pointed out that the divergent Relative Strength Index (RSI) lends further credence to the possibility of Bitcoin hitting the support range around $70,000 to $73,000. CryptoOnchain advised traders to monitor for reversal signals near the $72,000 level. However, they also cautioned that maintaining the $70,000 to $73,000 zone is crucial to avoid a more severe correction or a prolonged bear market.
Interestingly, Bitcoin’s price wandered into the sub-$75,000 territory during the first quarter of this year as global financial markets grappled with the repercussions of trade tensions. Thus, a potential return to this price level might feel somewhat familiar to investors, though it would represent a nearly 20% decline from current prices.
As for Bitcoin’s current performance, it is valued around $88,330, showing little change in the past 24 hours. As the market navigates these turbulent waters, many will be watching closely to see if the anticipated support levels can hold and if a bullish reversal is indeed on the horizon.
