Bitcoin bounces from Monday's worst levels, but sub-$80,000 may come next, analyst says
Bitcoin rebounded slightly after Monday's selloff, but analysts suggest a drop below $80,000 is likely due to fragile market conditions.Summary
Cryptocurrencies stabilized Tuesday, with Bitcoin bouncing above $87,000 after Monday's sharp selloff, though Ether lagged. Crypto equities also saw gains, outperforming the modestly lower U.S. stock market amid delayed employment data showing a rise in the unemployment rate to 4.6%.
Despite the short-term bounce, analysts remain cautious. Samer Hasn of XS.com described the environment as "fragile," noting $750 million in long liquidations over the past two days. Hasn believes BTC's recent rise was a "corrective high" and anticipates the next move will take the price below $80,000 without a positive macro catalyst.
David Hernandez of 21shares noted a short-term battle between delayed monetary easing and Bitcoin's long-term value proposition. While immediate selling pressure might test support zones, he suggests that economic tension reinforces the bullish argument for accumulation due to Bitcoin's finite supply.
(Source：CoinDesk)