Bitcoin’s price dipped below $84,000, prompting warnings of a potential drop to $70,000. Analysts highlight bearish technical formations and macro pressures ahead, making the next moves critical. While some traders predict significant bullish opportunities, the overall sentiment remains cautious due to market fluctuations and external factors.

On March 29, Bitcoin’s price fell below $84,000, experiencing an intraday decline of 3.1% which brought it to a low of $83,696. This increase in selling pressure has prompted technical analysts to warn of a potential drop below $70,000. Veteran trader Peter Brandt noted the strong resistance near $90,000 and suggested that a fall below $70,000 is plausible under current conditions.

Bitcoin is currently facing significant bearish pressure, with analysts indicating potential risks that could lead to further declines. Key price levels are being closely monitored, including the critical range around $84,000 to $85,000. While some analysts see opportunities for a bounce, the overarching sentiment remains cautious amidst macroeconomic uncertainties.

Original Source: www.thecoinrepublic.com

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