Bitcoin Dips 2.1%, Death Cross Signal Raises Bearish Concerns, Could $70K Be Next?

Bitcoin has experienced a noticeable price decline of 2.1% in the last 24 hours, currently holding at around $83,414. The market is now grappling with potential bearish trends, as technical indicators suggest a death cross signal which indicates a possible price decrease. This potential downturn is fueled by the closing of the $80,000 support level and uncertainty regarding its long-term stability. Analysts remain cautious and point to the possibility of Bitcoin dropping below $70K if this bearish trend persists. However, they also highlight the possibility of a significant recovery.