Bitcoin $BTC Slips Below $80,000 — What Happened Today?
Bitcoin dropped below $80,000 in Thursday's Asian session, falling from above $81,700 to around $79,800. It is now trading near $80,093, down about 1.7% in 24 hours, with a day low near $79,710.
What happened? Two things hit at once. First, the US Federal Reserve held interest rates at 3.75%–4% on Oct 28 in a 10–2 vote, but with a hawkish tone — inflation is still above its 2% target, and markets now see a high chance of a rate hike in December. Second, a tech-led sell-off in Asia spilled into crypto, dragging Bitcoin and the wider market lower. About $356 million in crypto futures longs were liquidated in 24 hours.
What it means: $80,000 is a key psychological level, and traders are now watching support around $79,600–$80,000 and resistance at $81,500–$81,750. If support holds, a bounce back above $81,500 is on the table; if it breaks, analysts point to a deeper support zone near $73,000–$77,600. All eyes are also on the US PCE inflation data due later today.
Do you think Bitcoin holds $80,000 from here, or is a deeper dip coming?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
Bitcoin dropped below $80,000 in Thursday's Asian session, falling from above $81,700 to around $79,800. It is now trading near $80,093, down about 1.7% in 24 hours, with a day low near $79,710.
What happened? Two things hit at once. First, the US Federal Reserve held interest rates at 3.75%–4% on Oct 28 in a 10–2 vote, but with a hawkish tone — inflation is still above its 2% target, and markets now see a high chance of a rate hike in December. Second, a tech-led sell-off in Asia spilled into crypto, dragging Bitcoin and the wider market lower. About $356 million in crypto futures longs were liquidated in 24 hours.
What it means: $80,000 is a key psychological level, and traders are now watching support around $79,600–$80,000 and resistance at $81,500–$81,750. If support holds, a bounce back above $81,500 is on the table; if it breaks, analysts point to a deeper support zone near $73,000–$77,600. All eyes are also on the US PCE inflation data due later today.
Do you think Bitcoin holds $80,000 from here, or is a deeper dip coming?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
