Confirmation of Bitcoin's death cross may indicate that BTC has entered a bear market.

Bitcoin's Death Cross: Bitcoin has flashed a "death cross" on its daily chart, a technical pattern that historically precedes significant price declines, with past occurrences leading to drops of 64% to 77%.

Bear Market Confirmation: The price of Bitcoin has dropped to $80,000, closing below key support levels, which analysts suggest confirms its entry into a bear market.

Realized Losses Surge: Bitcoin realized losses have exceeded $800 million, driven primarily by short-term holders selling at a loss, reminiscent of the market conditions following the FTX collapse in 2022.

Market Outlook: Analysts warn that if Bitcoin fails to reclaim its 50-week moving average, it may indicate a deeper bearish trend, with predictions suggesting a potential decline toward the April bottom of $74,500.