Bitcoin has fallen below critical AVWAP and SMA50 levels, indicating a bearish shift following its recent rejection near the 97,000–100,000 resistance zone. This marks the first lower high since the last halving, suggesting a transition from expansion to distribution. Short-term charts highlight corrective rebounds capped by Fibonacci resistance, with potential downside risk toward the 70,700–72,600 demand zone. Since the last halving, Bitcoin's price action has shown renewed weakness near the $75,900–$76,400 support levels. Sellers have consistently capped rallies, maintaining subdued price action. The current market structure reflects a shift from expansion to distribution, with Bitcoin trading below the Fourth Halving AVWAP and the downward-sloping SMA50, underscoring seller dominance. Analysts note that rallies are now seen as corrective rather than trend extensions, with a sustained move above 80,000 needed to alter this outlook.