Bitcoin has fallen below the $90,000 support level, breaking through a technical pattern to fall as low as $86,000.
Market experts from Matrixport have issued warnings that this technical breakdown could be due to the lack of strong buying pressure at the current price levels.
Bitcoin breaches ascending broadening wedge
According to Markus Thielen, independent analyst at Matrixport, BTC has broken the ascending broadening wedge pattern. This pattern violation shows bearish momentum unless prices quickly reclaim the wedge boundaries, per the analyst.
#Matrixport Today 📈 – Feb 25 2025⬇️#Bitcoin Breaks Key Pattern: Caution Warranted Amid Low Trading Activity‼️#Crypto #BTC #CryptoFinance #CryptoMarket pic.twitter.com/rnIlXpWUir
— Matrixport Official (@Matrixport_EN) February 25, 2025
“The likelihood of a deeper decline is increasing, particularly since this break is occurring during a period of low trading activity, which may result in limited demand to buy the dip,” Thielen explained in the report.
Old altcoin season no more
Ki Young Ju suggested in his latest X analysis an alternative model that changes the way investors deal with market cycles when comparing the performance of altcoins to that of Bitcoin.
“Alt season has begun. No direct BTC-to-alt rotation, but stablecoin holders are favoring alts,” Young Ju stated in his market update, highlighting that altcoin trading volume now exceeds Bitcoin’s by 2.7 times.
The altseason, when everything was pumping, ended in 2021. Now only chosen coins pump. DYOR matters more than ever. pic.twitter.com/fasO6nviN2
— Ki Young Ju (@ki_young_ju) February 22, 2025
According to the revised model shared by Young Ju, the market now follows a more complex phase structure. He mentioned that stablecoins play a central role in the initial capital deployment. This is followed by various ETF-driven and native crypto phases.
Young Ju also stressed that “BTC Dominance no longer defines alt season—trading volume does. He also stated that investors should prioritize relative trading volume metrics over simple market capitalization ratios when identifying altseason conditions. Despite this pattern recognition, Young Ju cautioned that the current market is a “very selective alt season.” He also advised investors to conduct thorough research before allocating capital to specific projects.
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