Bitcoin Slides Under $79K on Macro Fears: Is a Rebound Around the Corner?

BTC

BTC/USDT

$79,585.37

-0.19%

$79,585.37

-0.19%

(24s)

24h Volume

$7,705,363,420.61

24h H/L

$80,200.00 / $79,233.00

Change: $967.00 (1.22%)

Long/Short

52.9%

Long: 52.9%Short: 47.1%

Funding Rate

+0.0019%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,810.00

▼ -0.03%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$82,260.41

Resistance 1$79,878.00

Price$79,810.00

Support 1$79,635.96

Support 2$77,546.36

Support 3$73,033.65

Pivot (PP):$79,824.58

Trend:Sideways

RSI (14):66.7

Cointelegraph Staff

(08:50 AM UTC)

1 min read

Approved byDavid Kim

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Bitcoin (BTC) faced a sharp contraction on Friday following a rejection at $82,000 the prior day. Recent price movements closely resembled the US small-capitalization stock index, hinting that macroeconomic factors are the leading drivers behind the nosedive below $79,000.

The anxiety sparked a sell-off in fixed-income markets. Counterintuitively, this may help Bitcoin embark on a sustained…