Bitcoin Risks Deeper Downside as Market Focuses on $80,000 Support
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Bitcoin Risks Deeper Downside as Market Focuses on $80,000 Support

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Azeez Mustapha

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Bitcoin risks a deeper downside as the market focuses on $80,000 support. Bitcoin (BTC) is coming under mounting bearish pressure as analysts warn that a potential break below the key $80,000 support level could unsettle broader crypto markets. Despite earlier bullish sentiment, institutional and derivatives traders are increasingly flagging $80,000 as a decisive threshold heading into December. With liquidity conditions still fragile, a failure to hold this zone may signal weakening structural confidence in Bitcoin, leaving the market more exposed to sentiment-driven volatility.

Options positioning further reinforces the downside narrative, with concentrated open interest between $80,000 and $100,000 suggesting that professional traders are preparing for sustained instability rather than a rebound. This defensive stance highlights growing caution around Bitcoin’s near-term fundamentals, as market participants hedge against deeper declines. If bearish momentum accelerates, correlated altcoins and broader digital-asset risk may face amplified selling pressure.

Key Bitcoin Levels To Watch – December 7

Resistance Levels: $96,000, $102,110, $110,540
Support Levels: $85,010, $74,420, $66,780
COINBASE:BTCUSD Chart Image by amiraoluwaseyifunmi
BTCUSD remains under sustained downside pressure as price continues to respect the descending trendline on the daily chart. The recent rejection from the mitigation block around $94,000 reinforces bearish order flow and signals a continuation of lower-high formation.
Momentum indicators remain weak, with the MACD still positioned below its signal line despite a mild slowdown in bearish volume. A decline toward the next demand zone around $85,000 appears likely if sellers maintain control.
BTC Metrics
Total Market Capitalisation: $3.03T
Bitcoin Market Capitalisation: $1.78T
Bitcoin Volume: $34.89B
Market Rank: #1

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