Bitcoin (BTC) struggles to rebound from ten-month lows, trading below $80,000. Bearish sentiment prevails as BTC faces downside targets of $74,400 and $49,180. The loss of the 21-week EMA signals a potential extended bearish phase. CME futures gaps offer short-term relief, with hopes pinned on filling the $84,000 gap soon. Onchain research indicates a structural bearish regime as BTC price remains below investors’ realized cost basis, signaling potential for further downside.

Read more at Cointelegraph: Bitcoin Adds to Bear Market Worries as $49K Becomes a Target