Bitcoin’s sell-off extended for a third consecutive day, with prices dropping to levels not seen since November 11, 2024. At its lowest point during this correction, BTC briefly traded at $82,256 before finding some support. However, data indicates further downside potential before the market stabilizes. Independent market analyst Scott Melker highlighted a bullish divergence with an oversold Relative Strength Index (RSI), noting that a clear “elbow up” on the next candle is needed for confirmation. As Bitcoin charts new lows, the Crypto Fear & Greed Index hit a one-year low of 21, indicating ‘extreme fear.’ Data from Velo shows Bitcoin experiencing its worst three-day performance since 2022, alongside significant outflows from spot BTC ETFs. Concurrently, US equities markets also declined after President Donald Trump announced plans to impose 25% tariffs on the EU. The Trump administration has also issued guidance for federal agencies on conducting mass layoffs. Despite record liquidations potentially presenting a buying opportunity, analysts are cautious about declaring the end of the downturn. Traders estimate a Bitcoin price bottom between $80,000 and $71,000. This article does not provide investment advice or recommendations. Every investment decision carries risk, and readers should conduct their own research. — news from Cointelegraph