Futures market liquidations, a sharp sell-off in US stocks and limited progress on talks to fund the US government were taking a toll on Bitcoin price Thursday. Is $80,000 the next stop for BTC?
Bitcoin’s (BTC) strong start to the year has been fully erased, with its price slipping to a new yearly low below $84,000. Analysts viewed this move as part of a broader corrective phase rather than a structural market breakdown, driven by aggressive futures deleveraging rather than sustained selling in spot markets.
Key takeaways:
BTC fell to $83,400 and traded at the lower limit of the 10-week consolidation range that has capped its price since Q4.
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