{"id":20800,"date":"2025-04-06T14:46:46","date_gmt":"2025-04-06T14:46:46","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20800"},"modified":"2025-04-06T14:46:46","modified_gmt":"2025-04-06T14:46:46","slug":"bitcoin-price-analysis-is-btc-about-to-plunge-below-80k","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20800","title":{"rendered":"Bitcoin Price Analysis: Is BTC About to Plunge Below $80K?"},"content":{"rendered":"
\n

Bitcoin has been consolidating above the crucial $80K support level, going through substantial uncertainty. However, this range is expected to hold, potentially leading to a bullish reversal.<\/p>\n

Technical Analysis<\/h2>\n

By Shayan<\/a><\/p>\n

The Daily Chart<\/h3>\n

Bitcoin has been moving sideways above the $80K key support zone, which includes the 0.5-0.618 Fibonacci retracement levels and the ascending channel\u2019s lower boundary. This area is a critical psychological and technical support, likely filled with buying interest.<\/p>\n

However, if sellers gain control and push the price below, a wave of long liquidations could trigger substantial declines. The next major trend will depend on Bitcoin\u2019s price action around the $80K zone.<\/p>\n

\"btc_price_chart_0604251\"<\/a>
Source: TradingView<\/figcaption><\/figure>\n

The 4-Hour Chart<\/h3>\n

On the lower timeframe, Bitcoin faced selling pressure at the upper boundary of its descending channel, resulting in a sharp rejection. The price is now testing short-term support at $83K, aligning with a previous swing low. While some buying interest may emerge, overall market momentum remains weak, with sellers still in control.<\/p>\n

If buyers fail to defend this level, a drop toward the channel\u2019s mid-boundary at $79K will become likely. Conversely, a breakout above the descending channel\u2019s upper trendline could trigger a rally toward $93K.<\/p>\n

\"btc_price_chart_0604252\"<\/a>
Source: TradingView<\/figcaption><\/figure>\n

On-chain Analysis<\/h2>\n

By Shayan<\/a><\/p>\n

This chart illustrates the Miners\u2019 Position Index (MPI), a key metric that measures the ratio of total miner outflow to its one-year moving average. Elevated MPI values indicate heightened selling pressure from miners, which can signal potential price declines.<\/p>\n

Currently, the MPI remains below zero, suggesting no significant miner-driven selling pressure. Although the total number of Bitcoins held by miners continues to decline gradually, the USD value of their holdings has been trending steadily upward.<\/p>\n

This trend implies that miners remain confident in their operations. While their BTC reserves are shrinking, their USD-denominated value is increasing, reducing the incentive for mass liquidations even amid market downturns. This behavior suggests that the ongoing correction is more likely a deep consolidation phase rather than the start of a bear market.<\/p>\n

\"btc_miners_position_index_chart_060425\"<\/a>
Source: CryptoQuant<\/figcaption><\/figure>\n

The post Bitcoin Price Analysis: Is BTC About to Plunge Below $80K?<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has been consolidating above the crucial $80K support level, going through substantial uncertainty. However, this range is expected to hold, potentially leading to a bullish reversal. Technical Analysis By Shayan The Daily Chart Bitcoin has been moving sideways above the $80K key support zone, which includes the 0.5-0.618 Fibonacci retracement levels and the ascending […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20800","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20800"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20800\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}