Bitcoin is currently showing signs of entering a recalibration phase, with technical indicators suggesting a shift toward bearish territory. The Bitcoin Bull-Bear Market Cycle Indicator warns of potential long-term corrections.

The market has witnessed a sharp decrease in Bitcoin demand, with a notable 103,000 BTC drop in just a week. This downturn may reflect broader hesitance among investors as whales slow their acquisitions.

As Bitcoin’s price trades around 81,000 USD, it is approaching a crucial support level. If this level fails, the price could plummet to about 63,000 USD, signaling deeper market vulnerabilities.