Breaking through the $80,000 mark…Is Bitcoin price facing a continued rise or a falling trap?

Bitcoin is back above $80,000 for the first time in three months, but the breakout has prompted skepticism from some analysts, who warn it could be a bull trap rather than the start of a sustained rally.

Analyst “Dr. Profit” believes that the market may be in the final stages of this trap, with prices temporarily rising and then sharply reversing downward.

Despite this expectation, he maintained his buying position, anticipating further gains to the $83-85,000 range before the downward wave begins, with plans to switch to selling after taking profits.

On the other hand, network data showed marked weakness in activity, with the number of users and transactions falling to their lowest levels in two years.

This discrepancy between rising prices and weak usage suggests that the current rally is not supported by a strong demand base but instead depends on a limited number of players.

Typically, any strong rebound requires new users and increased activity, but so far that hasn’t happened.

Therefore, if large investors decide to take profits, there may not be enough demand to absorb the sell-off, increasing the likelihood of a pullback.

However, not all analysts believe the situation is entirely negative, as some technical indicators are showing continued upward momentum, especially positive signs on the weekly basis.

The $83,000 level is also a key area, as a solid move above it could open the way for further gains.

Overall, the market is currently somewhere between two scenarios:

Either a strong upward breakout is confirmed, or this rally turns into a trap and ends with a sharp decline.

Also read:

Ethereum trading volume rising: Is it an indicator of a successful ETH price breakout?

Bitcoin Price Tests $80,000 Levels for First Time Since January… Will the Rise Continue?