Bitcoin’s latest stretch of sideways price action around $70,000 is being read 
by some traders as a sign that the cryptocurrency is finally settling down. 
However, technical analysis shows that the structure now forming on the daily 
chart might not actually be a recovery base at all but a distribution pattern 
before a new low that has already appeared once before during a bigger decline 
since late 2025. Bitcoin&#8217;s Distribution Mechanism Is Still The Same According 
to a crypto analyst that goes by the name Ardi on the social media platform X, 
Bitcoin&#8217;s distribution phases keep looking identical because the mechanism 
never really changes. This is in relation to Bitcoin&#8217;s current price action, 
which has been trading in a range between $63,000 and $72,000 since early 
February. Related Reading: Breaking Down The $100 XRP Prophecy: Is There A 
Timeline? The idea behind this technical analysis is that Bitcoin’s behavior 
in bearish phases tends to follow a recognizable sequence. Price moves into a 
range, traders begin to treat the consolidation as stability, liquidity builds 
above local highs, and then a brief breakout above the range pulls in optimism 
from many crypto traders. However, that optimism does not always last. Once 
the price fails to hold above the range highs, the structure starts to weaken, 
and the next breakdown to the range support takes place. The chart attached to 
the analysis presents two nearly identical subsections. The first distribution 
range played out between roughly the mid-$80,000 region and the low-$90,000s 
between November 2025 and January 2026. This move eventually concluded with 
Bitcoin pushing higher, touching highs around $96,000, failing to accept above 
the range, and then breaking down towards the lower end of the range. That 
decline led into a break below the low support level that eventually dragged 
the price to as low as $63,000 in early February. Bitcoin Price Chart. Source: 
@ArdiNSC On X Why A Move Below $50,000 Is Now On The Table A sweep of local 
highs above $76,000 in early March generated headlines about how the Bitcoin 
price is now recovering. However, the price ultimately failed to hold above 
the range and began rolling over again. As it stands, price action in the past 
few days has mostly been bearish candlesticks, which have caused the Bitcoin 
price to be pushing to the lower end of the current range again. Related 
Reading: 4 Bitcoin Targets To Be On The Lookout For As Price Retests S/R Zone 
The most bearish part of the chart is the projected zone that follows the 
current range. Projecting the previous markdown in late January to the current 
price action would see the Bitcoin price break below the local $63,000 bottom. 
Particularly, the chart projected a similar outcome, with the highlighted 
markdown box extending down to $50,000 and as low as $48,000. This projection 
follows similar outlooks from multiple analysts that have predicted Bitcoin 
might break below $50,000 before creating a new bottom. Featured image from 
Dall.E, chart from TradingView.com

Bitcoin Distribution Mechanism Has Not Changed, All Roads Point To Crash Below $50,000

Bitcoin is beating gold during the Iran war, but its dependence on liquidity 
cycles keeps the safe haven narrative in question.

Bitcoin rebounds during Iran war, but safe haven role unproven

Bitcoin traders agreed that BTC price action needed to retake $72,000 to open 
up the odds of further upside as gold and US stocks gained.

Bitcoin bounces from 50-day trend line with $72K BTC price now key focus

South Korean exchanges logged $60 billion in crypto outflows in H2 2025 as 
deposits rose while profits, volumes, and market values declined.

South Korea exchanges record $60B crypto outflows as profits fall

The Bitcoin network experienced a rare two-block reorg on Mar. 23, at block 
height 941,880. Foundry mined six consecutive blocks, AntPool and ViaBTC 
briefly extended a competing branch. The chain resolved the fork as designed, 
following the path with the most hash rate. Bitcoin performed exactly as 
designed and validated its assumptions. The heuristic nobody […]
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confirmations” rule appeared first on CryptoSlate.

Cryptocurrency price in CLP