Bitcoin Faces Risk of Falling Below $80K as Technical Pressure Mounts, Analysts Caution

Bitcoin’s price is facing increasing technical pressure, and analysts are warning it could dip below $80,000 in the near future. The recent market movement suggests that Bitcoin may be approaching a top, with concerns over factors like Trump’s tariff plans and regulatory delays. A report by the Singapore-based blockchain firm Matrixport highlights the growing role of institutional trading in Bitcoin’s price fluctuations, emphasizing the influence of Wall Street on the market.

At the moment, Bitcoin holds a 60% market dominance, positioning it as the main benchmark for crypto traders. However, the uncertainty surrounding Trump’s proposed tariffs and a possible six-month delay in the Bitcoin Strategic Reserve consultation has created a “technical topping formation,” which could lead to a price correction. Matrixport analysts believe that Bitcoin’s price could fall to its next support level around $73,000, based on technical indicators.

Currently, Bitcoin is trading at around $88,290, but it had briefly dipped to $86,099 earlier, which caused a $1.06 billion loss across the crypto market. This drop heavily affected long positions, resulting in $873 million in losses. Additionally, data from CoinGlass reveals that more than 220,000 traders have been liquidated as prices fell. The open interest also decreased by 5%, indicating that traders may be pulling back in response to the price volatility.

The situation is further exacerbated by a surge in exchange inflows, which rose by 14.2%, signaling panic selling. Spot Bitcoin exchange-traded funds (ETFs) also experienced significant outflows, with $1.1 billion leaving the market over a five-day period. This included a massive $516 million outflow on February 24 alone.

In the wake of these market developments, crypto stocks followed Bitcoin’s downward trajectory. Coinbase (COIN) saw a 6.4% drop, Robinhood (HOOD) fell 8%, and Bitcoin miners like Bitdeer (BTDR) and Marathon Digital (MARA) lost 29% and 9%, respectively. These price movements suggest that Bitcoin is facing growing technical and market pressures that could lead to further volatility in the coming days.