Bitcoin Faces Potential Correction: Are We Entering Another Bear Market?

Bitcoin’s recent rebound has stalled, prompting concern among analysts who see troubling similarities to the cryptocurrency’s 2022 bear market. Data suggests Bitcoin may be heading for a deeper correction. Technical indicators and on-chain analysis paint a bearish picture for the weeks ahead. At $92,670, Bitcoin is trading at its highest point in weeks. However, technical data points to potential weakness in the near future. 2022 bear market parallels are emerging as well as key support levels are being approached.