Bitcoin has broken down from a rising wedge pattern and entered a key support zone, marking a 33% decline from its all-time high. The magnitude of the drawdown has historically preceded extended periods of weakness and heightened volatility in prior market cycles. Momentum indicators show no clear signs of bullish pressure returning, while trading volume remains subdued.

Bitcoin faced resistance between $99,386 and $100,972 before pulling back to a key support zone spanning $93,000 to $97,000. The retreat formed another lower low, reinforcing near-term bearish pressure, according to analyst More Crypto Online. Bulls must defend this range to prevent further downside toward $91,322–$82,523.

Bitcoin's Market Value to Realized Value (MVRV) ratio has declined to the 1.8–2.0 range, a valuation zone that has historically coincided with major market bottoms. The metric, which compares Bitcoin's market capitalization to its aggregate cost basis, reached similar levels during market lows in June 2021, November 2022, and April 2025, according to market analysts.

UBS completed its first live tokenized fund transaction on the Ethereum network, marking a milestone in institutional blockchain adoption. The transaction involved the UBS USD Money Market Investment Fund Token (uMINT) and utilized Chainlink's Digital Transfer Agent technology for on-chain redemption, according to a social media post.