Leading crypto analytics firm Swissblock indicates that Bitcoin (BTC) may not have reached its market bottom, even after the US enacted a 90-day tariff pause.
According to Swissblock on the social media platform X, the upward momentum of Bitcoin isn’t yet enough to signal a strong breakout.
“Stay vigilant! The 90-day extension of the trade war reduces tensions, but we’re still not in the clear. Bitcoin has surpassed the $78,000-$79,000 range and is currently holding above $80,000. Is this a confirmed recovery?”
Swissblock mentions that their Bitcoin Risk Signal – which assesses multiple indicators, including price data, on-chain information, and various trading metrics to evaluate if BTC is at risk of a significant drawdown – has not yet indicated that a market bottom has been achieved.
“For a genuine bottom to form, market risks need to diminish. The situation is manageable but still high, as we have yet to enter a low-risk environment. A clear reduction in risk is essential.”
As per Swissblock’s analysis, Bitcoin continues to trend downwards.
“For the market to establish a bottom, we need to see a signal in the trend’s formation.”
“Currently, we are in a downtrend, which is typical during bottoming cycles: downtrend, then eventual stabilization.”
“The bottom is approaching, but it hasn’t been confirmed yet.”
Swissblock asserts that for Bitcoin to demonstrate a bullish reversal, it must maintain $80,000 as a support level.
“Bitcoin needs to hold at least $80,000 and undergo consolidation to escape the downward pressure. Strength and trading volume are crucial for a bullish transition.”
At the time of writing, Bitcoin is trading at $83,221, up by 4.7% in the last 24 hours.
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