Bitcoin prices fell to around 80,000 USD, marking a tough start to the week. Arthur Hayes from BitMEX forecasts a retest of the 78,000 USD level, possibly dropping to 75,000 USD if that level fails.

Recent market activity shows 70% of the selling pressure arising from new investors panicking after the decline. The Bitcoin Fear & Greed Index indicates extreme fear among traders and may lead to further volatility.