Bitcoin Faces Potential Bear Market Despite Long-Term Growth Prospects

According to PANews, Bitcoin has recently surpassed $110,000, but the market is showing signs of fatigue, leading analysts to predict an impending bear market. Technical analysis indicates that Bitcoin's current price fluctuations resemble previous bear market patterns, with a potential target price of $69,000 for the next market downturn. Despite this, some market experts maintain that Bitcoin's long-term growth momentum remains strong, particularly supported by demand in decentralized finance (DeFi) and other application areas, suggesting it may overcome current market pressures in the future.