Bitcoin Likely to Slip Below $80K This Week: 10x

Bitcoin is likely to drop below $80,000 this week, according to a market update from digital assets research firm 10x Research. The firm attributes this potential decline to several macroeconomic factors, particularly rising inflation and growing uncertainty surrounding U.S. tariffs.

10x Research points out that hotter-than-expected U.S. core Personal Consumption Expenditures (PCE) data suggests inflation remains a concern. Additionally, shifting rhetoric from former President Donald Trump regarding tariffs has added to the uncertainty. There are fears that aggressive trade policies could further strain economic sentiment, leading to broader market volatility.

The upcoming U.S. ISM Manufacturing PMI report is also cited as a potential catalyst for further downside in Bitcoin and the wider market. If the data disappoints, it could lead to increased risk aversion among investors, which might spill over into the cryptocurrency market. Additionally, strong employment data could delay any potential Federal Reserve intervention, further dampening the chances of a market rebound.

Despite these concerns, 10x Research notes that market volatility remains relatively low, as indicated by the low levels of the VIX (Volatility Index). This suggests that traders may not be fully factoring in the potential for further declines in the market.

Given these risk factors, Bitcoin’s recent rebound looks fragile. If macroeconomic pressures persist, Bitcoin could experience further declines, potentially slipping below the $80,000 mark in the coming days.