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

BTC

BTC/USDT

$63,512.00

-0.30%

$63,512.00

-0.30%

(24s)

24h Volume

$14,384,973,747.08

24h H/L

$64,394.44 / $62,829.81

Change: $1,564.63 (2.49%)

Long/Short

62.8%

Long: 62.8%Short: 37.2%

Funding Rate

+0.0003%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,539.38

▼ -0.06%

Volume (24h): -

Resistance Levels

Resistance 3$67,544.12

Resistance 2$65,821.52

Resistance 1$64,204.08

Price$63,539.38

Support 1$62,892.34

Support 2$61,056.47

Support 3$59,130.91

Pivot (PP):$63,599.35

Trend:Downtrend

RSI (14):32.9

Cointelegraph Staff

(08:50 AM UTC)

1 min read

Approved byDavid Kim

756 views

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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…