According to @CryptoMichNL, Bitcoin (BTC) is losing its upward trend after a rejection at $76K, signaling a potential continuation of the existing downtrend. He outlines a sweep of the $60K low as an ideal accumulation point, emphasizing that BTC's movement remains heavily correlated with indices. Should indices rise due to events, Bitcoin might follow suit; otherwise, the negative trend is expected to persist. The key invalidation point for this view is a break above $71K.