Bitcoin set for more losses as signs ‘nightmare bear cycle’ emerge

Bitcoin’s ( BTC ) pullback from its all-time high of $124,500 is raising concerns of extended losses, with the asset’s current chart formation showing similarities to the 2021 cycle top that triggered a prolonged bear ￰0￱ to insights from popular online cryptocurrency analyst TradingShot, Bitcoin has struggled to regain momentum, with every rally attempt being sold off, and the price slipping below the 50-day moving average ( MA ). The setup mirrors the same sequence that unfolded four years ago when BTC entered a major downturn, the analyst noted in a TradingView post on August ￰1￱ price analysis chart.