Bitcoin has avoided a major collapse, staying above $80,000 amidst volatility on the stock markets. Analysts continue to monitor price dynamics.
US Markets Record Significant Losses
U.S. stock markets experienced a sharp drop reflected in the S&P 500 and Nasdaq, both falling by 3.5%. The panic was fueled by fears of a prolonged trade war, leading to an overall loss of more than $3.5 trillion over two days, the steepest drop since the pandemic in 2020.
Bitcoin Clings to Support Above $80,000
Despite the overall market downturn, Bitcoin has shown resilience, maintaining levels above $80,000. Analyst Rekt Capital noted that indicators on longer time frames provide encouraging signals, including the formation of a double bottom and bullish divergence in the relative strength index (RSI).
Analytical Predictions for BTC and Stock Markets
Some traders, such as Cas Abbe, observe that Bitcoin historically bottoms out before the stock markets. Current support levels, according to analysts, are likely to prevent further price declines for Bitcoin, and potential targets include a return to past all-time highs.
Bitcoin has demonstrated stability amidst high market volatility, and analysts speculate on the potential for further growth while awaiting confirmation of support levels.
