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

BTC

BTC/USDT

$63,140.05

+0.13%

$63,140.05

+0.13%

(24s)

24h Volume

$2,812,817,643.54

24h H/L

$63,390.00 / $62,968.45

Change: $421.55 (0.67%)

Long/Short

68.7%

Long: 68.7%Short: 31.3%

Funding Rate

+0.0043%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,164.00

▲ 0.12%

Volume (24h): -

Resistance Levels

Resistance 3$66,088.35

Resistance 2$64,507.45

Resistance 1$63,398.11

Price$63,164.00

Support 1$62,993.17

Support 2$61,814.38

Support 3$61,056.47

Pivot (PP):$63,064.66

Trend:Downtrend

RSI (14):43.9

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…