Why Bitcoin’s $72K Wall Signals Its Most Painful Cycle Phase Yet

Bitcoin (BTC) has repeatedly failed to break the $72,000 resistance level, and analysis suggests the cryptocurrency is entering a particularly difficult phase of its market cycle. According to CryptoQuant analyst MorenoDV_, key on-chain metrics point to a period of “elevated uncertainty” and psychological challenge for investors. These metrics include a bear market consolidation phase in the Bitcoin bull-bear market cycle indicator, declining apparent demand, and a Long-Term Holder SOPR below 1, signaling losses even among long-term investors. Furthermore, rising supply in loss, currently approaching 40-45%, historically coincides with deep corrective phases. While a breakout above $72,000 could trigger bullish momentum, continued resistance may lead to a decline towards $69,000 or even $66,000. Some analysts even forecast a prolonged bear market extending into late 2026, with potential price drops as low as $30,000.

(Source：Cointelegraph)