Bitcoin Faces $80K Risk as Nasdaq Struggles
Bitcoin’s rebound to $86,271.54 appears vulnerable as the Nasdaq, Wall Street’s tech-heavy index, stalled last week, signaling potential downside pressure for BTC.
Since hitting $80,000 on Nov. 21, Bitcoin rallied above $90,000, forming higher lows and highs in a temporary relief rally within a broader downtrend. Gains initially received support from a weaker U.S. dollar following the Fed’s rate cut, and longer-term trend indicators hinted at a possible bullish shift.
However, BTC failed to sustain momentum, retreating from $93,000 on Friday to near $88,000 on Sunday, before stabilizing around $89,600.
Bearish Technical Signs
BTC ended the week with a bearish weekly candle featuring a long upper wick and a small red body, indicating rejection above $94,000 and fading bullish momentum. Combined with Nasdaq’s stalled rebound and a bearish MACD, this raises the possibility of BTC revisiting $80,000.
The MOVE index, measuring 30-day Treasury volatility, showed an inverted hammer last week—historically a signal of rising volatility, which tends to weigh on risk assets like BTC.
Key Levels
Bitcoin needs to clear $94,000–$95,000 to regain bullish momentum. Strong resistance lies up to $100,000, while a breakdown could open the door for a re-test of $80,000.
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