Is the Bull Market Ending? Here's What You Need to Know

Bitcoin struggles to maintain above $90,000 amid increased selling pressures

Bitcoin experienced difficulty holding its recent gains above the $90,000 level, signaling waning demand at higher prices. Despite a push by bulls to break through this resistance, bears exerted significant selling pressure, causing the digital asset to retreat from its highs.

According to data from Farside Investors, spot Bitcoin exchange-traded fund (ETF) outflows reached nearly $635 million this week, reflecting a cautious stance among institutional investors. Bloomberg analyst MorenoDV_ highlighted that the True Market Mean (TMM), which signifies the average cost basis of all active coins excluding miners, currently sits at approximately $81,500. A breach below this figure could trigger a sharp decline, prompting Bitcoin to seek support around the $80,600 to $73,777 zone.

Contrasting this outlook, Grayscale analysts maintain a bullish perspective for 2026, projecting Bitcoin could surge to new all-time highs by mid-next year, supported by favorable macroeconomic tailwinds and clearer regulatory clarity in the United States.

Key technical levels and market sentiment

Despite intermittent recoveries, Bitcoin's price remains volatile, with traders closely watching support levels near $84,000. A decline below this could see a retest of the critical support at $80,600, while a break above the 20-day exponential moving average ($90,037) might pave the way for a rally toward $94,589 and the psychological milestone of $100,000.

Ethereum shows signs of resistance at key levels

Ether rebounded from its trendline but encountered resistance at the 20-day EMA ($3,066). A decline below the trendline could see Ethereum test support levels at $2,716 and $2,623, while a move above $3,350 would signal a potential trend reversal, targeting $3,659 and $3,918 in subsequent rallies.

Broader crypto market outlook

The overall sentiment remains cautious, with many top altcoins displaying mixed signals. BNB faces rejection at $883; XRP's downward momentum hints at further declines if support at $1.61 gives way; and Solana continues to struggle below resistance, risking further downside toward $95. Meanwhile, Dogecoin and Cardano exhibit signs of consolidating before potential upward moves, contingent on breaking crucial resistance levels.

Market participants will be watching liquidity and macroeconomic developments closely, as these factors continue to influence the volatile cryptocurrency landscape. Overall, the market remains cautious, with technical indicators suggesting the potential for reversals and continued sideways movement amid prevailing uncertainty.

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