Bitcoin Holds Key Support Amid Bear Market Decline

Bitcoin's price dropped by over $1,000 following the release of US inflation data but held its ground at a key support level.

This bear market trendline is seen as a crucial indicator for Bitcoin's future performance, and it has helped stabilize the price thus far.

The current price is approaching a critical resistance level around $65,600, which could act as a brake on downward movement if broken through.

Technical indicators suggest that the bear market may be ending, with signs of bottoming out despite possible short-term volatility.