Bitcoin has been consolidating above the crucial $80K support level, going through substantial uncertainty. However, this range is expected to hold, potentially leading to a bullish reversal.<\/p>\n
By Shayan<\/a><\/p>\n Bitcoin has been moving sideways above the $80K key support zone, which includes the 0.5-0.618 Fibonacci retracement levels and the ascending channel\u2019s lower boundary. This area is a critical psychological and technical support, likely filled with buying interest.<\/p>\n However, if sellers gain control and push the price below, a wave of long liquidations could trigger substantial declines. The next major trend will depend on Bitcoin\u2019s price action around the $80K zone.<\/p>\n <\/a>Source: TradingView<\/p>\n On the lower timeframe, Bitcoin faced selling pressure at the upper boundary of its descending channel, resulting in a sharp rejection. The price is now testing short-term support at $83K, aligning with a previous swing low. While some buying interest may emerge, overall market momentum remains weak, with sellers still in control.<\/p>\n If buyers fail to defend this level, a drop toward the channel\u2019s mid-boundary at $79K will become likely. Conversely, a breakout above the descending channel\u2019s upper trendline could trigger a rally toward $93K.<\/p>\n <\/a>Source: TradingView<\/p>\n By Shayan<\/a><\/p>\n This chart illustrates the Miners\u2019 Position Index (MPI), a key metric that measures the ratio of total miner outflow to its one-year moving average. Elevated MPI values indicate heightened selling pressure from miners, which can signal potential price declines.<\/p>\n Currently, the MPI remains below zero, suggesting no significant miner-driven selling pressure. Although the total number of Bitcoins held by miners continues to decline gradually, the USD value of their holdings has been trending steadily upward.<\/p>\n This trend implies that miners remain confident in their operations. While their BTC reserves are shrinking, their USD-denominated value is increasing, reducing the incentive for mass liquidations even amid market downturns. This behavior suggests that the ongoing correction is more likely a deep consolidation phase rather than the start of a bear market.<\/p>\n <\/a>Source: CryptoQuant<\/p>\n The post Bitcoin Price Analysis: Is BTC About to Plunge Below $80K?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin has been consolidating above the crucial $80K support level, going through substantial uncertainty. However, this range is expected to hold, potentially leading to a bullish reversal. Technical Analysis By Shayan The Daily Chart Bitcoin has been moving sideways above the $80K key support zone, which includes the 0.5-0.618 Fibonacci retracement levels and the ascending […]<\/p>\n","protected":false},"author":0,"featured_media":57164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57163"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57163"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57163\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/57164"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Daily Chart<\/h3>\n
The 4-Hour Chart<\/h3>\n
On-chain Analysis<\/h2>\n
![<\/a>Source: TradingView<\/p>\nThe 4-Hour Chart<\/h3>\nOn the lower timeframe, Bitcoin faced selling pressure at the upper boundary of its descending channel, resulting in a sharp rejection. The price is now testing short-term support at $83K, aligning with a previous swing low. While some buying interest may emerge, overall market momentum remains weak, with sellers still in control.<\/p>\nIf buyers fail to defend this level, a drop toward the channel\u2019s mid-boundary at $79K will become likely. Conversely, a breakout above the descending channel\u2019s upper trendline could trigger a rally toward $93K.<\/p>\n<\/a>Source: TradingView<\/p>\nOn-chain Analysis<\/h2>\nBy Shayan<\/a><\/p>\nThis chart illustrates the Miners\u2019 Position Index (MPI), a key metric that measures the ratio of total miner outflow to its one-year moving average. Elevated MPI values indicate heightened selling pressure from miners, which can signal potential price declines.<\/p>\nCurrently, the MPI remains below zero, suggesting no significant miner-driven selling pressure. Although the total number of Bitcoins held by miners continues to decline gradually, the USD value of their holdings has been trending steadily upward.<\/p>\nThis trend implies that miners remain confident in their operations. While their BTC reserves are shrinking, their USD-denominated value is increasing, reducing the incentive for mass liquidations even amid market downturns. This behavior suggests that the ongoing correction is more likely a deep consolidation phase rather than the start of a bear market.<\/p>\n<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: Is BTC About to Plunge Below $80K?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has been consolidating above the crucial $80K support level, going through substantial uncertainty. However, this range is expected to hold, potentially leading to a bullish reversal. Technical Analysis By Shayan The Daily Chart Bitcoin has been moving sideways above the $80K key support zone, which includes the 0.5-0.618 Fibonacci retracement levels and the ascending […]<\/p>\n","protected":false},"author":0,"featured_media":57164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57163"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57163"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57163\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/57164"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/BTC-D-1-scaled.jpg\"){kind=link}
![<\/a>Source: TradingView<\/p>\nOn-chain Analysis<\/h2>\nBy Shayan<\/a><\/p>\nThis chart illustrates the Miners\u2019 Position Index (MPI), a key metric that measures the ratio of total miner outflow to its one-year moving average. Elevated MPI values indicate heightened selling pressure from miners, which can signal potential price declines.<\/p>\nCurrently, the MPI remains below zero, suggesting no significant miner-driven selling pressure. Although the total number of Bitcoins held by miners continues to decline gradually, the USD value of their holdings has been trending steadily upward.<\/p>\nThis trend implies that miners remain confident in their operations. While their BTC reserves are shrinking, their USD-denominated value is increasing, reducing the incentive for mass liquidations even amid market downturns. This behavior suggests that the ongoing correction is more likely a deep consolidation phase rather than the start of a bear market.<\/p>\n<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: Is BTC About to Plunge Below $80K?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has been consolidating above the crucial $80K support level, going through substantial uncertainty. However, this range is expected to hold, potentially leading to a bullish reversal. Technical Analysis By Shayan The Daily Chart Bitcoin has been moving sideways above the $80K key support zone, which includes the 0.5-0.618 Fibonacci retracement levels and the ascending […]<\/p>\n","protected":false},"author":0,"featured_media":57164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57163"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57163"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57163\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/57164"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/BTC-4H-1-scaled.jpg\"){kind=link}
![<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: Is BTC About to Plunge Below $80K?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has been consolidating above the crucial $80K support level, going through substantial uncertainty. However, this range is expected to hold, potentially leading to a bullish reversal. Technical Analysis By Shayan The Daily Chart Bitcoin has been moving sideways above the $80K key support zone, which includes the 0.5-0.618 Fibonacci retracement levels and the ascending […]<\/p>\n","protected":false},"author":0,"featured_media":57164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57163"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57163"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57163\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/57164"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/Bitcoin-Miners-Position-Index-MPI-scaled.jpg\"){kind=link}