Cryptocurrency analyst Axel Adler delivers a critical analysis of Bitcoin’s current market outlook. He warns that the cryptocurrency is teetering on the brink of bearish territory, with its integral index hovering near 43% – a threshold just above the neutral zone. “The market is edging towards a bearish phase: the index sits at 43%, below the 45% threshold signaling the potential for continued downward pressure,” Adler explains. Adler points to Bitcoin’s current price of $111,000, highlighting a 3% discount from its fair value of $115,000. Despite these recent dips, he highlights that sellers have not reached peak strength, as the market has witnessed a decrease in volatility. However, Adler believes sustained bullish signals are still absent and warns of the potential for further decline if no significant movement occurs.