Bitcoin's latest consolidation continues, with the price hovering around $64,000, equivalent to approximately S$82,000. Over the past week, the market has failed to establish a unified direction, with traders continuing to diverge in their opinions on future price movements.

This week saw range-bound trading.

Reports indicate that Bitcoin has been fluctuating primarily between $63,000 and $66,000 this week, remaining within a narrow range. Compared to its high of approximately $126,000 in October 2025, the current price has fallen by about half.

This means that although the market has temporarily stopped falling, the rebound is still limited. Short-term funds are more concerned about whether the range will be broken, rather than whether a one-sided trend has been established.

Expectations for bulls and bears continue to diverge.

Bearish views suggest that if Bitcoin breaks below its current support level, the price could fall further to between $58,000 and $53,000. Bullish views, however, believe that if risk appetite improves, Bitcoin could still return to the $125,000 to $130,000 range by mid-2027.

At present, the market disagreement is mainly focused on two issues: first, whether the current consolidation is just a short pause after the decline, and second, whether the price can rise back to a higher range.

Short-term focus on support and resistance levels

Currently, the market is focused on short-term support levels between $63,500 and $63,700, while resistance levels are between $65,500 and $66,000. If prices continue to remain within this range, market sentiment is likely to remain cautious.

• Support range: $63,500 to $63,700
• Resistance range: $65,500 to $66,000
• This week's trading range: $63,000 to $66,000

Overall, Bitcoin remains in a phase of directional decision-making. Without a clear short-term price breakout, the battle between bulls and bears is likely to continue dominating market performance.