Bitcoin’s drop below $90,000 signals entry into bear market as onchain profitability metrics turn negative. Key support levels at $80,000-$84,000. Annual net realized profits drop to 2.5 million BTC from 4.4 million BTC in October, resembling 2021-2022 transition. Analysts predict prolonged consolidation, potential return to $58,000 price level.

Sell-off sees BTC/USD pair down 9% from 2026 high of $97,930. Key support levels lost, including 75th percentile cost basis at $92,940. Bitcoin now back at rising trendline support between $89,000-$90,000. If lost, may revisit range lows around $84,000. Major support at $80,000 with weak derivatives market and selling pressure expected to push price lower.

Read more at Cointelegraph: Key Bitcoin Price Levels to Watch as BTC Bear Market Begins