Bitcoin may be short-term bearish... Trader "94k·82k standing by to buy"

Some analysts say some traders are preparing buy-the-dip strategies as Bitcoin (BTC) may show short-term weakness.

On the 5th, according to crypto-focused media CoinDesk, Brent Donnelly, head of Spectra Markets, said, "I will place buy orders in the $94,000 and $82,000 ranges in case the market panics." He explained, "In the short term, Bitcoin is trading more like a risk asset than a safe-haven asset," and "there does not appear to be clear upward momentum at present."

Donnelly added, "The trend of companies incorporating Bitcoin into their financial assets is cooling, and the seasonal flow after the halving has also shifted to bearish." Historically, Bitcoin's bull market peaked around 16–18 months after the halving, followed by about a year of bear market. Since the last halving was in April 2024, some analysts suggest this cycle may also turn downward.

He continued, "Technically, Bitcoin recently broke down below the $111,982 support level, signaling a shift to decline, and has since been turning that area into resistance," and "if it fails to break above that area, it could lead to further declines," he projected.

In the market, the US employment data to be released that day is cited as a factor that could decide short-term direction. If results exceed expectations, expectations for Fed rate cuts could weaken, increasing downward pressure on Bitcoin, observers say. At the Chicago Mercantile Exchange (CME), it was reported that some traders have been buying Bitcoin put options to hedge downside risk.