In his latest market outlook, popular analyst Colin Talks Crypto highlighted the $98,000 level as the defining threshold that could determine whether Bitcoin remains in a healthy bull market or slips into a deeper correction.
According to Colin, several long-term technical indicators converge around this price, including the 50-week moving average and a key trendline dating back to 2021. The analyst warned that failure to sustain this region could trigger an extended downturn.
“The structure hasn’t broken yet, but the energy behind this rally is clearly softening,” he wrote on X, noting that recent weekly closes have hovered just above this critical support.
Historical trends add weight to the warning. Colin pointed out that two consecutive weekly closes below the 50-week average have often preceded prolonged bearish phases, making the coming sessions crucial for Bitcoin’s momentum.
Still, his outlook isn’t entirely bearish. Colin remains optimistic about a potential recovery later this year, suggesting that the current 17–18% drawdown from Bitcoin’s peak fits within the normal volatility range of past bull markets. This type of pullback, he noted, could serve as a healthy reset before a new upward leg into year-end.
Ultimately, the analyst framed $98,000 as the “line in the sand” for sentiment and structure alike. If Bitcoin holds above it, he expects confidence to rebound quickly, potentially paving the way for a fresh push toward new all-time highs. If not, he cautioned, “the market may have already seen its local top. The next few weeks will tell us if this is just a cooldown, or the end of the party.”