Bitcoin's price has sharply declined this week, dropping below $80,000 from $95,700. Large holders of BTC, known as whales, have sold a significant number of coins, leading to further selling pressure and suggesting potential further price declines. However, the actions of these whales could also indicate a shift in strategy and confidence in the long-term potential of Bitcoin. The recent downturn in Bitcoin's price has also resulted in significant realized losses, particularly from newer market participants, which could deter further participation and weigh heavily on price recovery. Bitcoin is currently trading at $79,539 and may test the next support level at $76,741. Reclaiming the support of $80,313 could signal a potential recovery.



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