Bitcoin, the flagship cryptocurrency, has been under significant pressure, currently trading around $82,852.8, reflecting a 1.68% decline over the past 24 hours. This downturn is part of a broader correction from its all-time high of $109,071 in January 2025, marking a substantial decrease of approximately 24.5%.
Technical analysis indicates the development of a bear flag pattern, a bearish continuation signal suggesting potential further declines. Analysts at 10X Research have identified weak support at the $73,000 level, cautioning that a breach could lead to accelerated losses. This pattern mirrors the 2021 market downturn, underscoring the importance of robust risk management strategies for investors.
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