Bitcoin has lost its critical support level.

Bitcoin Experiences Value Loss

Bitcoin has recently experienced a value loss of %7.3, dropping to $82,700. This situation has also led to a %10.3 decline in the CoinDesk 20 index.

Fear Dominates Market Sentiment

Analysis firm Santiment reported that there is a prevailing atmosphere of extreme fear and negativity in the markets. Historically, this situation is interpreted as a sign of a possible price recovery.

Long-Term Investors are Selling Quickly

Long-term Bitcoin holders have been experiencing the fastest selling rate recently, with some sector observers suggesting that the market may be approaching the end of a bull market.