Bitcoin’s Recovery Faces a Reality Check: Cycle Conditions Remain Subdued

Bitcoin rebounded after US midterm-election uncertainty drove a Wednesday selloff that pushed it to nearly $75,600, its lowest in almost seven weeks, but the recovery stalled after reaching $81,000 and it fell back to $76,000. CryptoQuant, an analytics firm, said its Bitcoin Cycle Extremes Index stood at 15.8% on a 30-day moving average, placing it in a Watch/Mild Pressure zone, with Bitcoin about 46% below its prior all-time high. The firm said the indicators point to a corrective, subdued phase rather than a confirmed cycle bottom, leaving further consolidation or another downward leg possible.