Analyst: The market is at a critical juncture of a structural correction, with the futures market still dominated by sellers.

Crypto market analyst Axel Adler Jr. released his latest market observation, noting that Bitcoin has fallen around 6% from $86,700 on October 2 to $81,600 on October 20. The market is currently at a critical juncture for a structural correction, with bulls and bears battling near key support levels. According to Alex’s analysis, Bitcoin’s market structure signal has dropped from +0.37 a week ago to -0.32. Although the signal has moved out of the bullish range, it remains in the neutral zone and has not yet hit the bearish threshold below -0.5. He emphasized that the lower bound of the price range over the past three weeks is $80,400. As long as prices hold above this level, the current movement can still be considered a normal correction within the range; however, if prices break below $80,400 and the structure signal simultaneously drops below -0.5, the market correction will officially evolve into a downtrend. In the futures market, the index line reflecting the strength of long and short positions (buyers above 50, sellers below 50) has been below 50 since October 17. Although the index approached 50 on October 19, it failed to break through, and has now fallen back to 46. Alex stated that a decisive break above 50 for the index line will be the first signal of buyers returning. However, sellers currently hold absolute dominance, and futures market demand lacks sufficient momentum to push prices higher. Overall, Bitcoin is currently in a critical period of direction determination. The market needs to closely monitor the performance of the $80,400 support level and whether the futures long-short index can reclaim the 50 threshold, to determine whether this correction is a short-term adjustment or a precursor to a trend reversal.