Bitcoin Price News: Losing $80K Support is No Big Deal – Here’s Why

Bitcoin (BTC) is the second-best-performing asset in the top 5 in the past month, despite the latest retreat, with a 9% gain.

The top crypto recently pulled back after hitting the 200-day exponential moving average (EMA) for a second time. However, today the market showed that buying interest is picking up its pace.

The price briefly dipped below $80,000 in the past 24 hours, but buyers quickly made an appearance, reflecting an apparent build-up of bids at that psychological threshold.

The result was a strong recovery to nearly $82,000 and an imminent retest of the 200-day EMA.

Net outflows to exchange-traded funds (ETFs) show that investors were spooked by this pullback, as $836 million was taken out of these vehicles since the week started. Market sentiment remains neutral, and buyers are still skeptical about the nature of this rally.

As we stated in a previous Bitcoin price prediction, this is classic early-cycle behavior. Traders are coming back to the market, but are still cautiously approaching the rally as they don’t want to get roasted again.

Traders Are Coming Back Into the Market at a Slow Pace

The Crypto Fear and Greed Index reflects this, as this sentiment gauge currently sits at 50, which means “Neutral.” However, we recently saw a strong jump to 62 that could have marked the beginning of what we think could be a long-lasting bull market for cryptos. Keep in mind that this was the highest print in the F&G Index since October 2025.

Meanwhile, traders are starting to position for further upward movement, as indicated by data from the futures market. Open interest (OI) in BTC futures has been steadily increasing and recently hit $64 billion.

This is the highest level that this metric has reached since January, back when BTC traded at around $96,000. Bears need to get squeezed out hardly for BTC to reverse its latest downtrend, and a move above the 200-day EMA could be exactly what the market needs to get a brand new rally going.

Short liquidations spiked to $120 million in the past 12 hours as BTC rose above $80,000 again, reflecting that there are still sellers out there who believe that this might be a short-lived “bear market rally.”

However, whales appear to be thinking otherwise. Data from Santiment shows that wallet addresses with balances ranging between 10 and 100,000 BTC have bought 20,000 tokens since the month started.

This means around $1.6 billion poured into the top crypto, on top of the nearly $4 billion that whales bought last month. Deep-pocketed players are back in “accumulation” mode, and we should be listening to whales’ chanting.

This is What Needs to Happen for Bitcoin to Get to $100K

We keep tracking Bitcoin’s weekly chart after a major buy signal popped up in this higher time frame. As we have stated in the past, the Relative Strength Index (RSI) dropped below 30 in March this year. This was the first time this happens since June 2022.

The last three times this has happened, BTC has delivered some major gains. Although in percentage terms, the magnitude of these gains has been dropping, this could still be a great opportunity to buy, even if BTC rises by 200% to 300% over the next 12 to 24 months, which is what we expect.

The definite “buy” signal in this weekly time frame was the RSI’s decisive move above the signal line. This marked the beginning of previous bullish cycles and coincided with a strong bounce off the 200-week EMA.

We only see one risk factor right now from a technical standpoint, and that is BTC’s retest of the 50-week EMA from below. In previous articles, we emphasized that a break below this technical line had resulted in a major crash for the top crypto.

The last time it happened, BTC took a 60% loss. We were expecting that at the beginning of the year, but the tables turned as the market found strong support at $67,000. That said, BTC is not out of the woods yet, as the token needs to climb above that 50-week EMA to fully invalidate a bearish thesis.

If we get that breakout, we can safely say that this bear market is done.

What to Expect from BTC in The Next Few Days?

Heading down to the daily chart, we have not been able to enter our long position for the top crypto yet, as the price did not (at least until now) come down to the $77,000 area. This was BTC’s former resistance and could be the key level to watch if this recent pullback persists.

This is why we don’t see the $80K breakouk as a reason to be worried. We still have room to let buyers breathe a bit and give latecomers a chance to get in. However, we are at a critical juncture as we are hitting the 200-day EMA.

We expect a stronger pullback or a major breakout – it is an “either or” situation right now. If the pullback stops at $77,000, we are safe. The next backstop in case that support falters would be BTC’s trend line support at $72,000.

If we lose that one, bears win. We would likely retest the $67,000 level or probably go lower if the 50-week EMA holds up.

We have two potential scenarios ahead for BTC then. We either break past the 200-day EMA and hit our expected target of $85,000 in the next few days, or we get a stronger pullback to $77,000.

The market should raise enough liquidity at those levels if sentiment has truly shifted, and that should kick off the next stage of this rally. Our less likely scenario at this point is a break below that area. If we get that, then we risk losing fuel and could see BTC crashing back down to its late-March lows.