Bitcoin Faces Critical Support After ATH with Low Liquidity Market Struggles to Lead

In the latest analysis, Bitcoin appears to be trapped in a low-liquidity 'air gap' as part of a continued post-ATH (all-time high) drift. Based on Glassnode data, Bitcoin has fallen below crucial support levels, indicating a fragile market structure. Market makers suggest that trading volume and conviction among major players remain weak, with no clear guiding force to push prices upward. This situation reflects a cautious market sentiment, where Bitcoin is experiencing a period of consolidation after reaching its peak. The low liquidity environment can lead to increased volatility, but also signals a lack of strong buying interest. The struggle of major market movers to lead suggests uncertainty and a potential pause before the next significant move, either upward or downward. Overall, the current market conditions suggest traders should exercise caution. The fragile support levels and weak conviction point to a potential for sharp moves if new catalysts emerge. Monitoring on-chain data and market sentiment will be essential in anticipating Bitcoin’s next direction in this sideways trading pattern.