Futures market liquidations, a sharp sell-off in US stocks and limited progress on talks to fund the US government are taking a toll on Bitcoin price today. 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 $83,600 and trades in the lower limit of the 10-week consolidation range that has capped its price since Q4.
