Bitcoin Drops Below $80,000 as Market Sentiment Turns Bearish

The march mayhem has begun with bitcoin sliding down towards $80,000 over the weekend. With the market sentiments turning bearish as the US

Bitcoin price slid further on Monday morning, testing a new low point as U.S. market sentiment soured and triggered further sell-offs for the largest cryptocurrency and others.

Bitcoin fell to $80,000 a little after 7:00 p.m. ET, a 7% decline in the previous 24 hours. At the time of writing, the cryptocurrency was trading at $81,641, showing a very small rebound from that low.

The price declines come as the U.S. moved to implement former President Trump’s tariffs on Sunday, sparking a downturn in market sentiment.

The bulk of Bitcoin options are priced between $70,000 and $75,000, which could lead to even more volatility if prices fall into that range, BitMEX co-founder Arthur Hayes said in a Monday morning post.

An ugly start to the week. Looks like BTC will retest $78k. If it fails, $75k is next in the crosshairs. There are a lot of options OI struck $70-$75k, if we get into that range it will be violent.

A sunny Sunday morning, and we’re already in the red. Delighted to report that BTC price dropped 6000 to test its lows for 2025. In this bearish framework, the 4-hour chart reveals a larger consolidation.

At $86,000, Bitcoin encounters resistance, while $81,000 serves as support. Big red candles represent long-term selling, while small green spikes in volume indicate buying attempts that didn’t last.

An average directional index (ADX) of 25 indicates low trend strength, highlighting high volatility and a persisting bearish bias.

If bitcoin fails to break higher, traders might consider short entries near resistance. Conversely, if the $81,000-$82,000 zone sees substantial buy volume, potential long positions could arise.

Also Read: US Could Hold 25% of Bitcoin By 2035, Says Michael Saylor