Bitcoin Risks Drop to $80K as Bulls Fail Key Resistance

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Bitcoin trades near $86.7K after a 30% drop from its peak. Analysts warn of a move to $80K if BTC fails to break above $88K soon.

Bitcoin (BTC) has fallen nearly 30% from its October high of over $126,000 and is trading around $86,500 at press time. The asset is moving sideways after a sharp drop earlier in the month.

Despite small bounces, there’s no clear sign of a trend reversal yet. The focus now is on whether Bitcoin can break above $88,000. If not, the move toward lower levels may continue.

$88K Stands as the Line to Beat

This week, Bitcoin briefly touched $88,000 before falling back toward $87,500. The 7-day range between $85,100 and $93,000 reflects uncertain movement. With no clear breakout, the lower areas near $83,000 and $80,000 are starting to draw attention.

Kamran Asghar, another analyst, believes Bitcoin is searching for a new base after breaking below a long-standing support line. He marked $86,500 as a possible short-term floor, but warned that deeper levels may be tested. He pointed to a zone between $72,000 and $75,000 that hasn’t been touched since the 2024 breakout.


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