Bitcoin has experienced a 46% decline from its previous all-time high near $80,000, and current cycle indicators suggest it remains in a correction phase. Key metrics like the 30-day moving average of the cycle-extremes index and a cycle-extremes oscillator are at low levels, indicating mild market stress but no confirmed bottom. Analysts warn that selling pressure may not be over, and further price consolidation or declines are possible. Investors should watch for a sustained rise in these indicators as signs of recovery and a potential end to the correction phase.
Bitcoin cycle gauges and correction phase data provide context for cryptocurrency market conditions. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Nov 06, 2026 13:01 WIB: out of 50 major cryptocurrencies, only 4 rose while 45 fell today. Among notable movers, GRT dropped 7.55% to Rp345 with 83% sell orders, ALGO fell 7.49% to Rp1,691 with 62% sell orders, and BAT declined 7.48% to Rp2,387 but had a strong 81% buy order activity, contrasting with the others' dominant selling pressure.
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