 
 
Bitcoin (BTC) traded in a tight range on Monday, extending its sideways consolidation after a volatile week.
Notably, over the past seven days, the world’s largest cryptocurrency has declined by nearly 6% amid widespread selling across major digital assets. The divergence has fueled speculation that Bitcoin may be quietly building a base while sentiment remains fragile.
Meanwhile, according to analyst MartyParty, “New pattern has flashed on Blackrock IGV. A double bottom with target 95 — with Bitcoins correlation at 0.92 that puts Bitcoin at a double bottom to $84k,” he stated.
His argument hinges on the historically tight correlation between Bitcoin and the BlackRock tech growth ETF proxy, implying that if the equity-side pattern resolves higher, Bitcoin could follow suit.
Additionally, according to analyst Trader Tardigrade, “Bitcoin Fear & Greed Index in Extreme Fear: Echoes of Historic Lows? Current $BTC sentiment is at Extreme Fear – it recently dipped to 5 just days ago, marking some of the deepest fear in years,” he noted. The analyst compared the current mood to prior cycle bottoms, including late 2018, the March 2020 pandemic crash, and the aftermath of the 2022 exchange failures, periods that ultimately preceded major recoveries.
 
Furthermore, analyst DeepValue Signals emphasized the importance of Bitcoin’s current technical zone. He warned that the price is sitting directly on channel support, compressed by a falling wedge pattern. “BTC needs to make a stand right here… if it doesn’t start pushing up from this zone, the next move is likely another flush lower instead,” he stated.
The comment highlights how tightly balanced the market remains, with bullish continuation dependent on an immediate defense of support.
Moreover, according to analyst Columbus, Bitcoin has been coiling in a narrow band between roughly $67,000 and $68,000. He pointed to thick liquidity building above $70,000 and substantial bids stacked in the mid-$60,000 range. According to his assessment, the longer Bitcoin remains compressed within this range, the more forceful the eventual breakout or breakdown is likely to be.
A decisive reclaim of the $69,500–$70,000 area could open the way to heavier liquidity clusters overhead, potentially aligning with projections tied to the triple-bottom thesis.
For now, Bitcoin remains locked in a tightening range, with sentiment washed out and liquidity stacked on both sides, conditions that historically precede large directional moves.
At press time, BTC was trading at $65,346, reflecting a 3.0% spike in the past 24 hours.
Source: https://zycrypto.com/bitcoin-signals-potential-surge-to-85000-as-triple-bottom-pattern-forms/