Bitcoin Tumbles Below $80K: Crypto Picks to Watch Today

Bitcoin (BTC) is hovering around $78,000 after delivering a 23% weekly rally, with the asset down about 0.6% over the past 24 hours. BTC has largely remained around this level throughout the week, keeping traders focused on whether the current support will hold while some investors turn their attention to alternative opportunities such as Bitcoin Hyper.

The dramatic launch of Hunter Biden’s LAPTOP memecoin has highlighted the risks associated with speculative crypto assets. Data from DexScreener showed the token briefly reaching a $110 billion market capitalization before plunging by more than 99% on launch day.

Blockchain analytics firm Bubblemaps described the event as a “bloodbath” and estimated that roughly 80% of traders suffered losses.

The LAPTOP team attributed the extreme price swings to sniper bots and thin liquidity. In a Medium post, the project said it planned to allocate 4 million tokens toward liquidity-pool incentives, while a separate burn mechanism would be tied to the resolution of prediction markets.

The collapse provides another example of how quickly speculative tokens can lose value. For the broader crypto market, Bitcoin’s ability to maintain support and Ethereum’s position near resistance may offer more useful signals than another short-lived memecoin rally.

BTC remains below major resistance

Bitcoin recently traded at $78,314, showing almost no movement over 24 hours following its 23% jump last week.

KuCoin’s daily report pointed to renewed macroeconomic headwinds as one reason bulls have struggled to extend the rally. Brent crude is above $100, while WTI has moved close to $96.

On the technical front, buyers have successfully defended the $77,600-$77,900 region. Bitcoin faces stronger selling pressure between $80,000 and $82,000.

Meanwhile, perpetual futures volume has reached approximately $421 billion. RSI Hunter has warned that the elevated derivatives activity indicates increased leverage risk. Long-term holders, however, have reduced their selling activity, with pressure from this group falling to a one-month low.

A break above $80,000 could strengthen the bullish outlook, particularly if ETF inflows provide additional buying pressure and help BTC move toward previous highs.

The neutral scenario would see Bitcoin continue trading between $77,600 and $80,000 while investors wait for the macroeconomic picture to become clearer.

A loss of $77,600 would shift momentum toward the bears, especially if rising yields contribute to additional selling.

Bitcoin Hyper seeks growth through Layer 2 infrastructure

Bitcoin’s market capitalization has climbed above $1.5 trillion, making large percentage gains increasingly difficult to achieve without substantial new capital. A 2x move from current levels would require a much larger investment than similar gains did during Bitcoin’s smaller market in 2020.

As a result, investors are also examining projects designed to build additional functionality around Bitcoin.

Bitcoin Hyper ($HYPER) is positioning itself as a Bitcoin Layer 2 with full SVM integration. The project aims to support smart contracts at speeds comparable to Solana while settling transactions through Bitcoin’s base layer.

The presale has raised $33,119,143.07 to date, with the token currently priced at $0.013686. Early buyers can also access staking opportunities offering APY.

At the heart of the project is its Decentralized Canonical Bridge, which is intended to address Bitcoin’s limited programmability. Rather than simply creating another synthetic Bitcoin asset, Bitcoin Hyper aims to add Layer 2 functionality that can support applications built around the Bitcoin network.

With BTC continuing to trade near $78,000, investors are weighing the possibility of another Bitcoin breakout against newer projects seeking to capture value by expanding the utility of the underlying network.