Bearish Market Sentiment Grows as Analysts Predict Bitcoin (BTC) May Fall Below $80,000

In recent developments, analyst Adam from Greeks.live highlighted a prevailing bearish sentiment within the cryptocurrency market, suggesting that the Bitcoin (BTC) price might face potential declines below the $80,000 mark. This outlook is reinforced by traders observing a significant breach of the “M top,” indicating heightened medium-term downside risks. Furthermore, record outflows from Bitcoin spot ETFs have intensified the pessimistic market sentiment.

Options market analysis shows peculiar trends in market volatility. Experts noted that, despite recent downturns, medium-term options volatility has not surged, implying that traders might view the current dip as a singular event rather than the start of a longer trend reversal. Additionally, Ethereum’s (ETH) gamma distribution remains notably strong at the $2,500 price level, supported by negative gamma dispersion, which suggests that the market anticipates reduced volatility in the upcoming period.