The cryptocurrency market is currently experiencing a drop, with Bitcoin's price declining by 3.55% in the last day. On the hourly chart, it is breaking a local support level and a close below this may lead to further correction towards the $78,000 area. On a larger time frame, traders should pay attention to the $78,197 level, as a breakout could result in a test of the $75,000 range by the end of the month. There are currently no reversal signals from a midterm perspective, and if the price falls below $80,000, a continued downward move towards the $70,000 range is expected. At the time of writing, Bitcoin is trading at $79,880.



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