BTC is once again nearing the 80,000 level. Watch for the risk of a faster decline if it breaks below this level!
The broader market has fallen back toward 80,000, but based on the current trend, the downside may not be fully exhausted yet, and any rebound may be relatively limited. The 80,000 level is key in the short term. A decisive break below it could trigger another accelerated decline.
Recently, crypto ETF flows have remained under pressure, while net outflows from institutional investors have also weighed on market confidence. Without fresh positive catalysts, a strong short-term rebound will remain difficult to achieve.
Bulls have already experienced a wave of concentrated liquidations, and the market is currently tilted toward the bears. This week, keep an eye on Wednesday’s US CPI data and Waller’s speech on Friday. Until the news provides a clear direction, the market is expected to remain choppy and cautious.
Key levels to watch today:
BTC: Support at 80,000; resistance at 83,000.
ETH: Support at 2,400. In my view, there is still a relatively high chance that this level will break. If it does, watch the area around 2,350 next; resistance is at 2,500.
SOL: Support at 100; resistance at 107.
Notably, ETH and SOL have both shown choppy, downward-leaning daily chart structures recently, and have generally been weaker than BTC. If the broader market sees another significant pullback, ETH and SOL may face more pronounced selling pressure. Other altcoins are also mostly in a corrective phase, with the overall market looking weak.
Has the current BTC bull cycle already ended?
I think it is too early to draw that conclusion. The area around 80,000 is a crucial dividing line. Whether it holds—and what this week’s news brings—will directly affect how we assess the market’s next move. From here, the key things to watch are how well the 80,000 level holds as support and whether BTC can reclaim it if it breaks below.
$BTC
$ETH
$SOL
#BTC #ETH #solana
The broader market has fallen back toward 80,000, but based on the current trend, the downside may not be fully exhausted yet, and any rebound may be relatively limited. The 80,000 level is key in the short term. A decisive break below it could trigger another accelerated decline.
Recently, crypto ETF flows have remained under pressure, while net outflows from institutional investors have also weighed on market confidence. Without fresh positive catalysts, a strong short-term rebound will remain difficult to achieve.
Bulls have already experienced a wave of concentrated liquidations, and the market is currently tilted toward the bears. This week, keep an eye on Wednesday’s US CPI data and Waller’s speech on Friday. Until the news provides a clear direction, the market is expected to remain choppy and cautious.
Key levels to watch today:
BTC: Support at 80,000; resistance at 83,000.
ETH: Support at 2,400. In my view, there is still a relatively high chance that this level will break. If it does, watch the area around 2,350 next; resistance is at 2,500.
SOL: Support at 100; resistance at 107.
Notably, ETH and SOL have both shown choppy, downward-leaning daily chart structures recently, and have generally been weaker than BTC. If the broader market sees another significant pullback, ETH and SOL may face more pronounced selling pressure. Other altcoins are also mostly in a corrective phase, with the overall market looking weak.
Has the current BTC bull cycle already ended?
I think it is too early to draw that conclusion. The area around 80,000 is a crucial dividing line. Whether it holds—and what this week’s news brings—will directly affect how we assess the market’s next move. From here, the key things to watch are how well the 80,000 level holds as support and whether BTC can reclaim it if it breaks below.
$BTC
$ETH
$SOL
#BTC #ETH #solana