Bitcoin has fallen below a key support level, trading at $81,200 after a 9.2% decline on the weekly chart, as overall market sentiment has plunged into 'extreme fear'. Glassnode data indicates that the price of Bitcoin may further drop to $80,700, but the losses for short-term holders are still below the capitulation threshold. Santiment points out that such extreme pessimism historically often signals a price rebound, while the Chief Investment Officer of Bitwise believes that the market may be in the late stages of a bear market bottom.