The Heart-Stopping Drop
Imagine the crypto world’s collective gasp: Bitcoin tumbled below $80,000 for the first time since April 2025, hitting $78,448 amid a savage 6.1% 24-hour rout. From a high of $83,629 to a gut-wrenching low of $75,720, BTC shed value faster than a winter frost, with $39.7 billion in volume underscoring the frenzy.
Macro Storms and Technical Warnings
As the dollar index climbed 0.4%, dragging gold down 2.5% and Nasdaq 0.8%, whispers of Walsh as the new Fed chair fueled the fire. Technically, it’s a bearish storm—RSI at 24.64 screams oversold, MACD deeply negative, price hugging the Bollinger lower band below $79,276, and well under the EMA 200 at $103,955. Yet, that oversold Stochastic (14/17) hints at weary bulls catching their breath.
Why It Stings—and What’s Next
For HODLers, it’s a test of faith after months of highs; traders eye strong support at $75,720 (77/100 score), with crash targets lurking at $58,878. Resistance looms at $80,285 (strong). Watch for a bounce from these depths or a breakdown—oversold signals could spark relief, but the downtrend rules.
Source: https://en.coinotag.com/bitcoin-plunge-below-80k-first-time-since-april-2025