Yesterday, the Bitcoin daily chart showed the market consolidating within a narrow range around 81,000.

In the evening, the bears increased volume and pushed the price down, causing a sharp decline, breaking below the 80,000 key level.
Currently, the price is fluctuating around 79,300 in a sideways consolidation.

From the current market trend, the large drop in Bitcoin in the evening completed the breakdown.
Although the short-term trend is somewhat weak, it remains in a normal retracement and correction phase, without effectively breaking the core support level.
The upward trend structure on a larger scale has not been damaged.
On the four-hour chart, after yesterday’s price surged to a new high and faced resistance, it fell back, and the market continued to correct downward, with the retracement slightly exceeding expectations.
Now, after the price broke below the mid-line support, it is testing the lower band support downward.
The market has shown signs of stabilization, and the downward momentum from the volume surge has basically been exhausted.
There is no further room for decline, and the overall outlook remains bullish.

Bitcoin retraced to around 79,100-78,500, with potential to rise to 81,500-83,000.
Altcoins retraced to around 2,260-2,230, with potential to rise to 2,350-2,450.