🔷 $BTC Above $80K: two levels decide everything
Bitcoin is trading around $80,450 after falling to $75,000. The catalyst was the Democrats’ victory in the U.S. midterm elections.
Van de Poppe: the best-case scenario is holding $79,800, with $79,000 as the backup level. If it holds, he expects a breakout in the next 7–10 days. Darkfost (CryptoQuant): investors’ average entry price is around $80,800. The market is back at breakeven. Will they sell at zero? Glassnode: trading volumes are higher than in the summer, and interest hasn’t faded.
The downside: the 30-day correlation with the Nasdaq 100 is 0.68. Bitcoin is still following stocks.
I’d view $80,800 as a test, not a wall.
Will BTC hold above $80K or head down again? 👇
#CryptoRay #BTC
Bitcoin is trading around $80,450 after falling to $75,000. The catalyst was the Democrats’ victory in the U.S. midterm elections.
Van de Poppe: the best-case scenario is holding $79,800, with $79,000 as the backup level. If it holds, he expects a breakout in the next 7–10 days. Darkfost (CryptoQuant): investors’ average entry price is around $80,800. The market is back at breakeven. Will they sell at zero? Glassnode: trading volumes are higher than in the summer, and interest hasn’t faded.
The downside: the 30-day correlation with the Nasdaq 100 is 0.68. Bitcoin is still following stocks.
I’d view $80,800 as a test, not a wall.
Will BTC hold above $80K or head down again? 👇
#CryptoRay #BTC
