Bitcoin\u2019s Price Action Reinforces Bottoming Thesis<\/h2>\n
Tyrex believes Bitcoin\u2019s repeated defense of the $108,000 to $105,000 zone is a strong indication that the market has already bottomed out. Throughout the week, price action remained around this critical area despite continued selling pressure. This means there is the presence of a firm support at this level.\u00a0<\/p>\n
The analyst explained that if the correction were still unfolding, Bitcoin would have already slipped below $108,000. Instead, the consistent retest and hold of this range suggests exhaustion of the bearish trend and a setup for a rebound. Such resilience after major drawdowns has often preceded powerful recovery rallies in previous Bitcoin market cycles.<\/p>\n
According to Tyrex, Bitcoin\u2019s current consolidation phase is forming a base for the next leg higher. He projected that the price could climb toward $117,000 in the coming sessions once short-term resistance levels are cleared. The broader technical structure still favors the bulls, with many traders viewing last weekend\u2019s crash as a reset that flushed out excessive leverage rather than a signal of long-term weakness. Momentum indicators have also begun to flatten out, and we could see renewed buying interest from both retail and institutional traders into the next week.<\/p>\n
Altcoins To Benefit From Bitcoin\u2019s Strength<\/h2>\n
Tyrex also suggested that the broader crypto market will follow Bitcoin\u2019s lead once it begins to move decisively upward. The majority of altcoins followed Bitcoin\u2019s crash last weekend and plunged massively. Ethereum, Solana, and XRP all fell below<\/a> support levels as market sentiment soured.<\/p>\n However, smaller assets are beginning to stabilize alongside Bitcoin, due to confidence among traders expecting the worst to be over. Tyrex warned investors not to misinterpret the ongoing sideways movement as a sign of further decline, noting that \u201cthe market already crashed, let it rest.\u201d<\/p>\n