Garrett Jin: The situation for Bitcoin bulls is not optimistic; the longer the bottoming process takes, the more likely it is to break support

"BTC OG Insider Whale" agent Garrett Jin released a market perspective stating that Bitcoin bulls are currently in an unfavorable position, with BTC continuing to hover above $76,500.

Garrett Jin expressed that he is not optimistic about the current prolonged bottoming market, believing that the longer the consolidation period, the more likely BTC is to break below the $76,500 support and further seek lower support levels, rather than immediately reversing.

He pointed out that if Bitcoin wants to show a stronger trend again, it needs to at least regain and maintain above $78,300.