Synopsis
Bitcoin fell below $80,000, hitting a 3.5-month low due to uncertainties over U.S. tariff plans, crypto regulations, and weak investor sentiment after an Ethereum hack. Despite the dip, institutional optimism remains with targets set at $500K by the end of Trump’s term. Major cryptocurrencies also saw losses, including Ethereum and XRP.
Bitcoin (BTC) fell below $80,000 on Friday, hitting its lowest level in 3.5 months amid uncertainty over U.S. President Donald Trump’s tariff plans, crypto regulations, and weak investor sentiment following a $1.5 billion hack in Ethereum.
The world’s largest cryptocurrency was last down 4.2% at $80,792, having touched an intraday low of $79,523, its weakest level since November 11.
“After trying to stabilize near $86,000, Bitcoin pulled back to $80,000 level, mirroring a broader market trend as bulls failed to regain control,” said Alankar Saxena, CTO and Cofounder of Mudrex.
Crypto Tracker
TOP COIN SETSWeb3 Tracker-11.88% BuyNFT & Metaverse Tracker-15.00% BuyDeFi Tracker-15.71% BuyCrypto Blue Chip – 5-17.48% BuySmart Contract Tracker-17.90% BuyTOP COINS (₹) Tether87 (0.1%)BuyBitcoin6,993,426 (-5.15%)BuyBNB50,439 (-5.5%)BuyXRP178 (-6.74%)BuyEthereum188,012 (-8.04%)Buy”Despite the dip, institutions like Standard Chartered remain optimistic, targeting $500K by the end of Trump’s term. Additionally, Texas’s unanimous approval of a Bitcoin Reserve shows strong government support for the sector. While these positive developments have boosted investor sentiment, it is yet to be reflected in Bitcoin’s price,” Saxena added.
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View Details »BTC faces resistance at $86,600, with support at $80,300, he noted.
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Other major cryptocurrencies also slid, with Ethereum down 7%, XRP losing 5%, BNB dropping 4%, and Solana slipping 3.9%. Dogecoin, Cardano, Chainlink, Tron, Sui, Avalanche, Stellar, Litecoin, and Hedera recorded losses between 2% and 8%.
Also Read: Robert Kiyosaki sees Bitcoin crash as a buying opportunity, calls it ‘Money with Integrity’
Bitcoin’s market cap fell to $1.611 trillion, with its dominance at 59.59%. BTC’s 24-hour trading volume dropped 10.45% to $61.34 billion, while stablecoins accounted for $132.46 billion, or 95.09%, of the total volume, according to .
Also Read: Pi Coin’s next move: Can it hit $100 and beyond?
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
