Bitcoin extends multi-week decline as traders split on a bounce
BTC has fallen for several consecutive weeks with heavy liquidations. Some traders say the downtrend is intact, while others point to a Fibonacci support zone for a bounce.
Confirmed
- Bitcoin has declined for several consecutive weeks
- Heavy liquidations have hit many traders
Not yet known
- Whether the downtrend continues or BTC bounces from the 0.71 Fibonacci level
- Whether the filled breakout gap signals a possible bounce setup
- Unconfirmed: Solana memecoin trenches down 99%
What we know
Traders note BTC has declined for several consecutive weeks, liquidating many traders. One trader warns of a 'clean and controlled downtrend' and says the dump is not over. Another notes price hit the 0.71 Fibonacci level and a horizontal level and filled the breakout gap, a possible bounce setup. Memecoin traders report Solana trenches down 99%.
Will Bitcoin dip to $55,000 by December 31, 2026?
Traders' bets on Polymarket, not a forecast by Global Eye 24. Polymarket · $8.0m traded · updated 09:58 UTC
What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
“dump is not over yet”
View post →“price hit 0.71 fib + horizontal level + filled in the breakout gap”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.