Despite closing the month on a bearish note, Bitcoin’s price is showing signs of strength despite technical indicators pointing towards bearish trends. This comes from growing confidence among traders who are accumulating BTC even during this period of market downturns. 70% of Bitcoin trading activity has taken place at long-term support levels. This suggests that the price may rebound in the near future as demand continues to build up. However, recent bearish indicators, such as a significant drop below the 200-day moving average and a weakening volume, have pushed the market into a bearish territory. Despite these indicators, there are positive signs. The long-term holder supply is recovering, suggesting traders are turning more optimistic about BTC’s future. This indicates potential for a supply squeeze in the near term. Additionally, short-term momentum suggests that Bitcoin could rebound soon with price potentially exceeding $90,000.