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Bitcoin and Crypto Bull Run Officially Over? BTC Drops Below $75,000
- Bitcoin price plunges below $80,000 as sellers dominate, erasing Q4 2024 gains and raising concerns about the future of the bull run.
- BTC/USD faces pressure as it sinks below $80,000 after hitting $88,500 post-Trump announcement and breaching $85,000.
- Analysts warn of potential further decline to 2021 highs of $74,000, with the possibility of Bitcoin slipping towards $50,000.
- BTC struggles to maintain support levels, with grim technical candlestick patterns suggesting a bearish outlook in the market.
- The realized cap of Bitcoin indicates a discrepancy with market cap, signaling challenges for buyers despite capital inflows.
- Analysts express concerns that the Bitcoin bull run may have come to an end, citing bearish signals and lack of market advancement.
- NUPL and SOPR indicators suggest that there may be real selling pressure emerging after 800 days into the bullish cycle.
- Despite mounting selling pressure due to macroeconomic factors, Bitcoin remains resilient and acts as a hedge against political uncertainty.
- Bitcoin's behavior as a separate entity from traditional markets is highlighted, indicating its potential role as a hedge in uncertain times.
- Corporate buying may influence Bitcoin's stability and its emergence as a safe haven asset amidst market fluctuations.
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