The post Bitcoin Price Faces $78K Breakdown Risk Amid These Factors appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) hovers near $83,000 but faces mixed signals. Technical rejection, volume trends, and macro uncertainty threaten a downside move toward $78,600. A failed breakout above a multi-month descending resistance line has added pressure to BTC’s structure. Despite a short-lived spot-driven rally to $88,500 earlier in the week, bearish targets remain valid amid declining volume and geopolitical tensions. Bitcoin Descending Trendline Still Intact Despite Spot Buy Surge Carl Moon flagged Bitcoin’s repeated failure to breach a descending resistance line that dates back to late Jan., highlighting weakening momentum. He wrote on X, “The trading volume continues to decline, which means this bearish target of $78,600 is still in play.” His chart suggests a sharp selloff could follow if bulls lose control of the current range. BTC/USD 1-D price chart. Source: Carl Moon/X Rekt Capital echoed a cautious tone noting the importance of the 21-week exponential moving average (EMA), stating, “BTC is getting close to positioning itself for a future breakout.” A weekly close above $87,650 could shift the trend in favor of bulls, but the price has so far struggled to hold above the trendline. BTC/USD 1-Week chart. Source: Rekt Capital/X Despite brief rallies, spot demand has not been sufficient to invalidate the longer-term bearish structure. Santiment data shows Bitcoin touched $87,300 but gained only 0.2% in the past week, while the total crypto market cap fell 7%. Source: Santiment/X $88.5K High Driven by Shorts Liquidated and Tariff Delay BTC hit an intraday high of $88,500 earlier this week as spot volumes surged. Data from CoinGlass showed $145 million in total liquidations, with $69.4 million from Bitcoin shorts. Short squeezes played a major role in the move, but analysts warned it lacked follow-through strength. Crypto market liquidations in the past 12-hours. Source. CoinGlass Coinchapter reported that the rally followed news…

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Filed under: News - @ April 3, 2025 11:25 am