Bitcoin starts the second week of March facing potential further declines, having just sealed its worst weekly candle in history, shedding 14% in a week. Analysts suggest a retest of $78,000 could be on the horizon with the old all-time high of $69,000 from 2021 reemerging as a significant point. Macro economic data releases, including CPI and PPI, are due this week, adding to market nervousness as stocks tumble. While some traders maintain a cautious outlook, others argue that Bitcoin's current position isn't definitive of a bear market, although they anticipate new lows may emerge around $77,000. Sentiment across the crypto market remains highly negative, reflected in the Crypto Fear & Greed Index, which has reached extreme fear levels. However, a ray of hope appears as Bitcoin whales have begun to accumulate again, showing potential for a relief rally if this trend continues. Overall, the market is expected to navigate through turbulent waters with critical dates and levels influencing trader sentiment.

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