Bitcoin has rebounded, briefly surpassing $81,000 this week and settling around $79,600 with a market cap exceeding $1.6 trillion. Multiple analysts caution that without decisively breaking through resistance levels at $82,000-$83,000, the cryptocurrency risks dropping back to $50,000-$60,000, or even $40,000-$45,000 according to the most pessimistic forecasts. Analytics firm CryptoQuant reports that 8 out of 10 market indicators are now in bullish territory, though it awaits a daily close above the 365-day moving average (around $83,000) to confirm the trend. Meanwhile, investors continue withdrawing BTC from exchanges, reducing immediate selling pressure.
Source: Read the original article
