Is Bitcoin heading for another bear market? Looking at the current chart, the four-hour line has formed a descending flag consolidation pattern, with price trading along the lower Bollinger Band. The MACD death cross opening shows no signs of convergence. After breaking below the 70,000 level, we're seeing a collapse of bullish momentum with bears taking control. Support gaps are opening below, and on-chain data shows exchange inflows surged over the past 24 hours. Multiple large holders are concentrating their selling, which is undoubtedly intensifying market panic. Therefore, Qingyao continues to recommend a bearish outlook.