Crypto Patel warned alongside the image that Bitcoin could revisit levels below $50,000 if it cannot reclaim $125,000. He described the structure as serious and asked whether a sharp pullback could follow.
Bitcoin later slipped from a two-month high near $97,000 to almost $95,000. Trading volume fell 13% over the past 24 hours. Ether traded flat near $3,300, while XRP and dogecoin dropped 2.66% and 4.23%.
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The pullback followed news that the Senate Banking Committee delayed markup on a market structure bill. Shares of Strategy and Coinbase closed down 4.7% and 6.5%. More than $320 million in liquidations hit crypto markets, with longs accounting for about 81%, according to Coinglass.
Bitcoin open interest declined 2.31%, though over half of Binance traders are long. Some analysts described the move as a pause. B2BINPAY said Bitcoin is slowly exiting a consolidation phase that began in mid-November 2025, with leverage still far from extreme levels.
The advance of Bitcoin towards $98,000 did not only bring it closer to the 61.8% Fibonacci retracement line of the fall from $126,000 to $80,000, which is a common point for stopping the rise. Simultaneously, the went down to the neutral point after a short time spent in the greed zone at the beginning of the week.