#Bitcoin falls below $75,000#

Bitcoin's recent price action has sparked market attention, with analysts pointing to a potential "head and shoulders" pattern, suggesting a possible sharp decline in the future. According to Omkar Godbole, technical analyst at CoinDesk Markets, Bitcoin's price action has formed a "head and shoulders" pattern since late November 2024, a technical indicator that typically signals a shift from a bullish trend to a bearish one. Analysts believe that the first shoulder was formed when the initial attempt to break through the $100,000 mark in November failed, followed by a rapid decline from the all-time high of over $108,000 set in the second half of December to $92,000, forming the head. The recent 5% price drop to near $97,000 suggests the formation of the right shoulder. If the sell-off continues and the price breaks below the neckline (the horizontal trendline connecting the bottoms of the two shoulders), the bearish head and shoulders reversal pattern will be confirmed. A break below this level could signal a further decline to around $75,000.