Bitcoin's price dropped suddenly, falling from just under $83,000 to below $79,000.The drop in price resulted in the liquidation of leveraged positions worth nearly $600 million.Analyst Jonatan Randing suggests that Bitcoin is approaching a historical support level, but questions if the market is still in a bull phase.Traders are preparing for a challenging market open on Monday amid tensions over reciprocal tariffs and the poor performance of major stock indices.