Last week in BVL048, we framed the market around one idea: the structure had bent, but it had not fully broken.
This week, price slid back into the bulls’ last-resort zone, an area where the market stops debating narratives and starts testing survival.
After losing the cost-basis zone and sliding toward the $74k area, Bitcoin has entered a phase of hesitation. Bear markets usually end in exhaustion, when sellers keep pressing but price stops responding with the same intensity.
The problem is that this process is never clean. It often feels unstable, emotional, and psychologically exhausting for holders trapped below their cost basis.
This is where Bitcoin is right now. So this week, the market is asking a new question:
Is this the beginning of a higher-low formation and a slow rebuilding process, or simply the pause before another leg lower?
