Bitcoin's price has been dropping for the past few weeks, with the asset now testing the 200-day moving average around $83K. If it breaks below this level, it could lead to a deeper decline and the end of the bull market for a few months. The price has corrected all of its recent recovery and is currently at a critical point before potentially forming a new low. There is a possibility of a rally above $92K again, but the bearish momentum indicated by the RSI suggests a break below $80K and a new low in the short-term. Many investors are panic-selling their BTC at a loss, as shown by the negative values on the Bitcoin short-term holder SOPR chart. If this selling pressure is not absorbed by buyers, it could lead to further drops in the market.



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