Bitcoin Price Prediction: BTC Can Drop to $80K But is at Levels Preceding FTX-Era Extremes

Bitcoin (BTC) has experienced significant volatility, recently bouncing back above $84,000 after dipping below $81,000 amid market stress. Analysts are warning that BTC could potentially drop to $80,000, echoing levels prior to the FTX collapse. The short-term realized-loss dominance indicates deeper market strain, with a notable 30% decline from bitcoin's record high. U.S. Federal Reserve comments have fueled market uncertainty, with a renewed possibility of interest rate cuts, prompting fluctuating sentiments among traders. The recent market actions highlight the resilience and vulnerabilities of cryptocurrencies as they navigate through a period rife with panic selling and liquidity crises. Investors are keeping a close watch on these developments as they could influence BTC's trajectory in the near future.

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