Bitcoin Bear Market Still Intact Despite Easing Selling Pressure

The selling pressure on Bitcoin appears to be easing, but experts say it's too early to call for a reversal of the current bear market. According to 10x Research, Bitcoin has been trading around $67,400, having briefly touched just above $70,000 during late trading on Monday before retreating. The asset has reclaimed its 20-day moving average near $68,500, with Bollinger Bands tightening in a pattern that could precede a period of range expansion.

Momentum indicators are showing early signs of stabilization, with both the Relative Strength Index and stochastic indicators trending higher. This is characterized as bullish divergences within a broader bearish structure by 10x Research. Volatility is compressing, ETF flows have strengthened, and the Coinbase premium discount has disappeared, factors that suggest the market is not accelerating into a fresh leg lower.

Despite these signals, 10x Research maintains that the data points to a tactical shift rather than a confirmed structural turn. The firm's broader allocation framework still classifies Bitcoin as being in a bear market regime, meaning any bullish positioning remains tactical rather than structural.