Analysts Warn of Bitcoin's Sharp Movement Risk at $80,000

Analysts from 10x Research have warned of the risk of a sharp movement in Bitcoin if the price falls below $80,000. They believe such fluctuations may arise due to low trading volumes over the weekend, increasing the risk of false market movements. CryptoQuant analyst Axel Adler Jr. noted that the range between Bitcoin's highest and lowest prices over the past 30 days has narrowed from 13% to 6%. As of the time of publication, the asset has been in a compression zone between $80,000 and $86,000 for the ninth consecutive day. As of October 24, Bitcoin bounced off the 365-day simple moving average (SMA 365) and closed the day at $80,500 – a new 30-day closing price low.

Adler Jr. emphasized: "Volatility compression usually ends with momentum," pointing to key levels – the upper boundary at $86,000 and the lower at the 365-day moving average. The expert did not specify the direction of the expected movement.

Another analyst, under the pseudonym Darkfost, drew attention to the negative assessment of the aggregate change in Bitcoin demand: the spot component was −58,000 BTC, the futures component was +39,000 BTC, and the aggregate value was −19,000 BTC. Previously, futures demand compensated for the lack of activity in the spot market, but recently this support has weakened: the positive derivative component is no longer sufficient to offset the negative spot one. Meanwhile, Darkfost noted a decrease in seller pressure. "Seller pressure has also weakened, but with low volumes, even the slightest movement causes sharp fluctuations," he emphasized.