- (HedgeCo.Net) Bitcoin (BTC) is trading near $87,500–$88,000 after a recent drop that saw prices dip as low as ~$82,000. CoinDesk+2FXStreet+2
- Technical analysts point to the 200-hour simple moving average (SMA) at about $88,000 as a key resistance level. If BTC breaks above it, there could be room for a stronger bounce. CoinDesk
- That said — sentiment remains cautious. Some warn that a “final leverage flush” from long positions could push Bitcoin further down, potentially to the $70,000–$80,000 zone. FX Leaders+1
? Why It Matters
The price action in Bitcoin is reverberating across the entire crypto market. A stabilization near these levels could restore some investor confidence, but many market watchers are stressing the fragility of the rebound. The macroeconomic backdrop — especially expectations around interest rates — continues to weigh heavily on risk assets like crypto. Morningstar+2Forbes+2
? What to Watch
- Whether Bitcoin can break above the $88,000 SMA and sustain the bounce. CoinDesk
- Whether institutional outflows or further leverage liquidations emerge — these could derail the recovery. FX Leaders+1
- Broader market signals like interest-rate news, inflation data, and macroeconomic stability.
Bottom line: Bitcoin is trying to climb out of a rough patch, but the path ahead is fraught. Traders and investors remain on edge — what looks like a recovery could easily pivot into another down leg if negative catalysts hit.