CryptoQuant analyst Axel Adler Jr. said Bitcoin's 30-day compression indicator has rebounded to 93.9%, an extreme level that has appeared four times since the current bear market phase began. According to ChainCatcher, Bitcoin has repeatedly tested its annual moving average over the past 20 days but has failed to hold above it, suggesting volatility compression is intensifying near a key resistance level and that the market may soon choose a direction.