Bitcoin (BTC) is currently in bear territory, but it is still considered to be in a broader bull market. However, there are technical indicators that suggest the bull market may be ending soon. The 50-week moving average is seen as a crucial support level, and if Bitcoin closes below it, it could signal the end of the bull market. Analysts predict further losses for Bitcoin, with a potential dip towards $78,000 before a strong bounce. The recent slump in Bitcoin's price was triggered by President Donald Trump's announcement of strategic crypto reserves, which led to backlash and market jitters. Institutional demand for Bitcoin is also weakening, as seen by outflows from spot Bitcoin exchange-traded funds. Bitcoin's price action now depends on the $78,000 and $80,000 support levels, with a breakdown potentially deepening losses and a rebound reigniting bullish momentum. At the time of writing, Bitcoin is trading at $83,262, down 10% in the past 24 hours.



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