Bitcoin is trading at $86,400, down 3.5% over the past 24 hours after briefly touching $85,578—the lowest level in two weeks. The leading cryptocurrency continues to struggle below $90,000 as U.S. trading session weakness persists.
Bitcoin: Key Levels
Support: $85,000 (exchange order book concentration) / $80,000 (November swing low) / $79,943 (classical pivot)
Resistance: $89,113 (pivot R1) / $91,820 (pivot R2) / $94,000 (early December high)
Volume spiked 25% during the selloff with $210 million in long liquidations within one hour, signaling capitulation among leveraged traders.
Catalyst
The Fed’s hawkish 25bps rate cut guidance spooked markets, while China mining crackdowns forced 400,000 miners offline, dropping hashrate 8%.
Bitcoin Price Prediction
Short-term (24-48h): Expect continued volatility around $85K-$87K. A bounce toward $89K is possible if support holds.
Medium-term (1-2 weeks): Recovery to $91K-$94K range if $85K holds and sentiment stabilizes.
Bullish scenario: Daily close above $89,000 → target $94,000 retest
Bearish scenario: Daily close below $85,000 → risk of drop to $80,000
Invalidation: The bullish thesis fails on a daily close below $79,943 (pivot S3).
Analysis by BlokchainFeed's market team — former TradFi professionals and on-chain analysts tracking crypto markets since 2013.
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