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The crypto market is currently experiencing significant bearish pressure, with Bitcoin, Ethereum, Solana, XRP, and Chainlink showing similar price action. Bitcoin's price is potentially repeating a historical pattern observed in April 2022, where a breakout above a resistance level was followed by an invalidation and a sharp decline. Currently, Bitcoin briefly broke above the $92,000-$94,000 range but has since fallen back, entering a sideways price range with support around $85,000-$86,000 and resistance at $92,000-$94,000. Massive net outflows from Bitcoin ETFs, including a record $708 million outflow on Wednesday, contribute to this downward pressure. In the immediate short term (next 24 hours to a couple of days), a slight relief or choppy sideways movement is expected across crypto assets due to oversold RSI conditions on lower timeframes (e.g., Bitcoin's 4H/6H chart and Ethereum's 8H chart). However, the underlying bearish divergences on higher timeframes (Bitcoin's weekly, Ethereum's 8H, S&P 500 ETF's 1H) remain active, suggesting a continuation of weakness beyond this short-term reprieve. Significant liquidation levels exist for Bitcoin around $85,200, which could be targeted. Ethereum is retesting a Fibonacci level around $3,040-$3,050 as resistance, with support around $2,800-$2,900. Solana is holding support at $124-$125, while XRP is supported at $1.80, and Chainlink at $12.00. Should these key supports break, further significant downside is anticipated, mirroring the broader market sentiment. The S&P 500 is also experiencing short-term relief from oversold conditions but remains under the influence of an active bearish divergence, indicating potential future struggle.