Over the past seven days, Bitcoin (BTC) has lost just under 10% of its value and shows no signs of a quick recovery. Bullish signals from the market aren't helping the cryptocurrency bounce back.

Let’s take a look at what’s happening in the Bitcoin (BTC) market and what to expect from its price.

Whales are entering the Bitcoin market
The number of Bitcoin whales — addresses holding between 1,000 and 10,000 BTC — has slightly increased to 2,006 after dropping to 2,002 earlier this week. This could indicate that some large investors are returning to Bitcoin accumulation mode.

Recovery in the number of large holders after a sharp decline may signal a renewed sense of confidence among key players, reducing the immediate risk of strong selling pressure and helping Bitcoin maintain its current range.

Ichimoku Cloud Signals Bearish Trend
The Ichimoku Cloud indicates a short-term bearish structure. At the time of writing, the cryptocurrency’s price line is below the Kumo cloud, which is shaded in green and red. This means that BTC is trading in a zone of weakness relative to historical and projected momentum.

Moreover, the cloud ahead is red — suggesting that the trend remains bearish in the near future, unless a reversal breaks through the upper boundary.

The Tenkan-sen line (blue) is below the Kijun-sen line (red), confirming a short-term downtrend. Both lines are sloping downward, which is an additional bearish signal. The Chikou Span line (green) is below both the price and the cloud, highlighting the lack of bullish momentum.

Ahead, the cloud is narrowing, which may indicate a potential equilibrium or consolidation. For now, the Ichimoku indicators support a bearish outlook. A bullish reversal would require the price to break above the cloud and for the future Kumo to shift from red to green.

BTC Forecast: A 'Death Cross' May Be Forming

A "death cross" recently appeared on the Bitcoin chart, and technical indicators suggest the possibility of another one forming. This development increases the risk of a deeper correction in the near future.

At the time of writing, the coin's price is holding slightly above a critical support level at $104,584, which has served as short-term support. If this level fails to hold, the next targets could be $102,135 and $100,694.

On the other hand, if Bitcoin manages to recover and gain strong momentum, it could have a chance to retest the resistance level at $106,726. A breakout above this level would open the path toward $110,728 or even $112,000.