* Price Action: BTC recently breached the psychological $80,000 support level and dipped as low as $74,500.
* Market Sentiment: "Extreme Fear" has returned to the market. The sudden drop has been attributed to a "risk-off" mood following the nomination of Kevin Warsh as the next Fed Chair, which investors view as a hawkish (tighter money) signal.
* Liquidity Crisis: Analysts note a "Realized Cap" plateau, meaning there isn't enough new money entering the system to absorb profit-taking from long-term holders.