Bitcoin breaks key support level as Glassnode warns of further price breakdown

Long-term bitcoin holders are selling at the fastest pace since August, while some industry observers suggest the market may be approaching a bear-market bottom. What to know : Bitcoin lost 7.3% in value, dropping to $82,700, with the broader CoinDesk 20 index falling 10.3% over a seven-day period. Santiment reports extreme market fear and negative sentiment, which historically has been a potential indicator of an impending price recovery. Long-term bitcoin holders are selling at the fastest pace since August, while some industry observers suggest the market may be approaching a bear-market bottom.