The BTC CME Bitcoin Futures daily chart is exhibiting a clear bearish structure across all timeframes. Price action remains subdued, with medium-sized bars and slow momentum, indicating a lack of aggressive buying or selling pressure after the recent sharp decline. The price is trading well below all major moving averages, with each benchmark (5, 10, 20, 55, 100, and 200 day) in a confirmed downtrend, reinforcing the prevailing negative sentiment. Both the weekly and monthly session fib grids show price below their respective NTZ (neutral trading zones), with the WSFG at -15% and MSFG at -47%, confirming persistent downward pressure. The yearly fib grid is even more negative at -73%, highlighting the depth of the longer-term decline. Swing pivot analysis shows the short-term and intermediate-term trends are both down (DTrend), with the most recent pivot high at 72,910 and the next potential pivot low at 61,480. Resistance levels are stacked far above current price, while support is clustered just below, suggesting the market is consolidating after a significant sell-off but remains vulnerable to further downside. ATR and volume metrics indicate moderate volatility and activity, but not at extremes, which is typical in the aftermath of a major move. There are no signs of a reversal or strong bounce; instead, the market appears to be in a phase of digestion and potential base-building, but with risk of further breakdown if support levels fail. Overall, the technical landscape is decisively bearish, with no immediate signals of a trend change. The market is in a corrective or distribution phase, and any rallies are likely to encounter strong resistance from overhead supply and declining moving averages.