Has Michigan's bubble burst?

On Thursday night the University of Michigan basketball team needed a win.
They really needed a win.
I mean, the Wolverines needed a win more than Bruce Pearl needs an attorney.
The team was hosting No. 12 Wisconsin, and with the NCAA tournament looming, the Wolverines are badly needing another big win to bolster their resume.
Sure, the Michigan State win at Breslin was huge, but then the Spartans got blown out by Iowa and Wisconsin, and it looked like their season was tail-spinning in to the kind of Dumpster fire that would rival any on the MSU campus.
The Spartans have since (sort of?) righted the ship with wins against Illinois and Minnesota, however, two wins by a combined nine points over a pair of very mediocre Big 10 teams is hardly a return to glory. In other words, one has to wonder how impressive a win over the biggest disappointment in NCAA basketball really is.
After that, Michigan's biggest wins are against Clemson and Harvard.
Harvard? Really?
If the Wolverines are pinning their tournament hopes on a three-point win over the Ivy League's finest, it's probably time to start packing for the NIT.
So, you can see why Thursday night's game against the Badgers was so important.
And for almost all of the second half of the game, it looked like the Wolverines were going to get that win that could transform them from bubble team to legitimate tournament hopeful.
In fact, until about the :06 mark, things looked really promising. The Wolverines held a 52-50 lead and even though Michigan's Darius Morris choked on the front end of a one-and-one about 25 seconds earlier, things looked OK.
And then Wisconsin freshman Josh Gasser hoisted up a desperation three-pointer, and a stunned Crisler crowd watched helplessly as it banked in just ahead of the buzzer.
That shot not only lost the game for the Wolverines, but it may have killed their chances of making it into the NCAA tournament.
With two games remaining before the Big Ten tournament starts, Michigan will surely have to win out, and probably make it at least to the conference tournament semifinals to even have a shot at an at-large bid to the Big Dance.
One of those final regular season games is against Minnesota, while the team's final game of the season is again...who else? Michigan State.
By the time this game is played, it is very possible that both Michigan and Michigan State will be relying on this game to get a bid.
Two teams, two rivals, one state.
And one really volatile bubble.