According to @RhythmicAnalyst, the current 6-month S&P500 Index candle is showing patterns similar to the 2000 and 2008 market tops, with heightened downside pressure. Notably, the analyst highlights the 2000 to 2600 range as a critical support zone, signaling a potential for significant declines if breached. However, a weekly close above 5900 would negate the bearish outlook. This analysis is crucial for crypto traders, as major equity market corrections can trigger increased volatility and capital flows into or out of digital assets, impacting Bitcoin and altcoin prices (Source: @RhythmicAnalyst, Twitter, May 12, 2025).

According to Miles Deutscher, $BTC currently appears highly bearish, with technical indicators signaling increased downside risk for Bitcoin traders (source: Twitter, May 12, 2025). The chart shared highlights persistent downward momentum, including lower highs and increased selling volume. Crypto traders are advised to watch support levels closely as a breakdown could accelerate losses across the digital asset market. This ongoing bearish trend in Bitcoin may impact altcoin prices and overall crypto market sentiment.

According to Milk Road, Jamie Coutts from RealVision discusses the recent pullback in Bitcoin prices and macroeconomic factors impacting the market. He highlights that 24% of top crypto tokens have hit new yearly lows, questioning whether this is the bottom. Coutts identifies key support levels critical for traders to monitor, suggesting that these levels could influence future price movements (Milk Road, Twitter).

According to Greeks.live, the market sentiment is cautiously bullish as traders are attentive to potential sell-the-news events surrounding Trump's inauguration. The $99k-$104k range is identified as crucial support, while $108k-$112k is noted as a key resistance zone. High volatility is anticipated until the reopening of US markets on Tuesday, with traders debating a potential pullback or breakthrough at the $108k level.