Bitcoin is experiencing a deepening downtrend, with its price currently fluctuating between $83,864 and $84,135. Over the past 24 hours, Bitcoin has traded within a range of $81,050 to $85,428, reflecting a significant decline from its recent peak of $116,381 to a low of $80,537. Technical indicators, including RSI, Stochastic, and MACD, all point to bearish conditions, with Bitcoin trading below all major moving averages. Market analysts suggest that a sustained move above $86,000 could indicate a potential reversal of the current trend. However, a breakdown below $83,000 may confirm further downside, reinforcing the bearish outlook for the cryptocurrency.