Bitcoin Breaks Key Support as Bears Circle Below $80K

Bitcoin fell below $80,000 on Monday, dropping as low as $75,644 as it broke under its 21-week moving average—a key technical level that often signals a bear market. Over $2.5 billion in liquidations hammered the market over the weekend, making it the 10th-largest wipeout in history as Bitcoin fell 17% from its $90,000 January highs. The post Bitcoin Breaks Key Support as Bears Circle Below $80K first appeared on News.

News Mar 4, 2026 0 2 Add to Reading List

Bitcoin Breaks Key Support as Bears Circle Below $80K

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Bitcoins

Bitcoin fell below $80,000 on Monday, dropping as low as $75,644 as it broke under its 21-week moving average—a key technical level that often signals a bear market.
Over $2.5 billion in liquidations hammered the market over the weekend, making it the 10th-largest wipeout in history as Bitcoin fell 17% from its $90,000 January highs.
$1.82 billion exited spot ETFs in just five days, marking a massive sentiment shift from mid-January when the market saw record-breaking inflows.

Bitcoin (BTC) held below US$80,000 (AU$122,400) on Monday after a more than 6% slide the previous day, with data from ETFs, derivatives, and on-chain metrics pointing to a move driven by leverage and thinning liquidity.

On the weekly chart, BTC has lost the 21-week exponential moving average, a level whose breakdown preceded earlier bear markets.

Analyst Rekt Capital noted that BTC has already fallen about 17% from roughly US$90,000 (AU$137,700) to US$78,000 (AU$119,340) since the latest bull-market EMA crossover:

So far, history is repeating, with downside occurring after the Bull Market EMA crossover. Bitcoin has dropped -17% from $90,000 to $78,000 since the crossover took place. History suggests that additional downside continuation over time lays ahead.

Rekt Capital

To make matters worse, CryptoBullet pointed to Bitcoin’s drop below the 21-week exponential moving average, a breakdown that preceded earlier bear markets.

Looking at on-chain data, CryptoQuant data shows spot trading below the realised price for holders who last moved coins 12–18 months ago, meaning this cohort is now underwater.

Liquidity Squeeze And Forced Selling

Unsurprisingly, US-listed spot Bitcoin and Ether ETFs saw steady outflows, as investors withdrew about US$1.82 billion (AU$2.78 billion) from spot crypto ETFs over five trading days, including roughly US$1.49 billion (AU$2.28 billion) from Bitcoin products and US$327 million (AU$500 million) from Ether funds.

The redemptions reversed a brief spike in demand in mid-January, when Bitcoin rose around 7% in two days and spot Bitcoin ETFs booked their largest single-day inflow of 2026 at US$840.6 million (AU$1.29 billion), alongside a jump in the Crypto Fear & Greed Index.

Analysts are pointed to three rapid liquidation waves totaling about US$1.3 billion (AU$1.99 billion) within 12 hours, but broader data from CoinGlass showed total liquidations briefly topping US$2.5 billion (AU$3.83 billion), making the move the 10th-largest daily wipeout on record and still well below the October 10 crash, when more than US$19 billion (AU$29.1 billion) was erased in 24 hours.

With BTC/USD trading under the “true market mean” at US$80,700 (AU$123,471), traders are watching lower zones. One widely followed liquidity map flags US$74,400 (AU$113,832) and US$49,180 (AU$75,245) as key downside targets for the current bear phase.

José Oramas Read More

The post Bitcoin Breaks Key Support as Bears Circle Below $80K first appeared on News.

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