Bitcoin's price has surged by 14.60% after dropping below $75,000 for the first time in five months, but its inability to surpass the $85,000 resistance raises concerns. Bloomberg's Senior Commodity Strategist, Mike McGlone, suggests that investments are shifting towards gold due to geopolitical tensions and increased inflation, which may pressure Bitcoin below $50,000. The 200-week moving average for Bitcoin is around $46,300, indicating potential risk for further declines. Meanwhile, Bitcoin ETFs have seen significant outflows as more investors favor gold, which has also reached record highs. Some analysts remain bullish, arguing that current price corrections are typical within broader bullish trends, particularly as past patterns indicate potential for rallies following consolidations. However, data shows growing unrealized losses among short-term holders, signaling possible early-stage bear market conditions. Caution is advised, as market dynamics could shift and influence Bitcoin's trajectory.

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