Bitcoin has broken below $85,000, extending its short-term downtrend after repeated failed attempts to reclaim the $90,000 handle. The move places BTC back into a dense liquidity zone, with volume and cost-basis data suggesting heightened sensitivity around current levels. At the time of writing, Bitcoin was trading near $84,700, down nearly 5% on the day, marking its weakest close since early December. A sustained break below the $82,000 area would expose Bitcoin to a sharper move toward the lower end of the range, where historical participation thins out. While volatility remains contained for now, the loss of $85,000 signals reduced risk appetite at current price levels.