Bitcoin's price has retreated to approximately $86,000 following a rejection near the $110,000 mark, as reported by Cryptofrontnews. Monthly momentum indicators, including the MACD, have turned bearish for the fourth time since 2018, with historical drawdowns averaging 60%. Kalshi's updated forecast now predicts a yearly low of $78,000, a significant drop from previous estimates. Short-term analysis reveals declining volume and lower highs, with traders monitoring the open CME gap at $85,100. Additionally, open interest data suggests that $6 billion in short positions could face liquidation if Bitcoin's price increases by another $10,000.