Bitcoin has experienced a significant decline in price, dropping below $80,000 for the first time since November 11. This marks an 18% slump since the start of the week and a 27% drop from its all-time high in January. Several factors are putting downward pressure on the cryptocurrency, including newly imposed Trump tariffs, outflows from spot BTC ETFs, and liquidations in the futures markets. However, some analysts believe these conditions could set the stage for a potential rebound. Renowned analyst Scott Melker highlights a developing bullish divergence, while technical analyst Tony Severino suggests a corrective pattern similar to previous years may be occurring. Traders are cautious, as a breach of certain support levels could signal a deeper correction. Prominent trader Josh Olszewicz notes the possibility of a retest of key support levels. Analyst Daan Crypto Trades points out significant buy orders on Binance futures. CEO of CryptoQuant, Ki Young Ju, emphasizes the importance of liquidity and predicts an extended consolidation phase. At the time of writing, Bitcoin is trading at $78,856.



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