Bitcoin's price has been in a rapid decline, breaking below key support levels and testing the 200-day moving average and $80K support. If these levels are further broken, a drop to the $63K support zone could be expected. However, there is a bullish divergence on the RSI and the strong support at $80K increases the likelihood of a short-term rebound. The futures market has also been a factor in the recent sell-off, with high-leverage positions being liquidated. This has caused a drop in open interest and could lead to further liquidations and selling pressure.



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