Recent analysis suggests Bitcoin (BTC) could decline further after reaching a low of 76,600 USD. Metrics indicate potential drops to around 68,400 USD or lower. Weak demand signals decreased investor confidence in the market.

The prevailing bear flag pattern and other valuation metrics show bearish sentiment, with the current bear market cycle indicator suggesting a downturn is likely. Analysts are cautioning that a breakdown of key support levels could lead to significant further price drops.