Bitcoin’s value has experienced a sudden and significant decline, dropping below $80,000 in recent hours. This drop, fueled by increased liquidation levels worth nearly $600 million according to data from CoinGlass, comes on the heels of Bitcoin outperforming major stock indices over the past few days, prompting discussions about its potential as a digital store of value. Popular analyst Jonatan Randing shared his analysis regarding Bitcoin’s trajectory, suggesting a possible near-term hit to the Weekly 50 EMA, a historical support level in bull markets. This question then arises: are we currently experiencing a bull market? Meanwhile, market tension runs high as anticipation for potential retaliatory tariffs from the European Union following President Trump’s decision to impose a 20% tariff on EU imports continues to increase stress on financial markets. Monday is expected to see a tumultuous opening with historical lows in major indices such as the S&P 500, NASDAQ 100, and the DJI since the COVID crash of 2020.