Bitcoin falls below the 80,000 mark—will the market see a major reversal?

Last night, US stocks opened high but then traded lower. Bitcoin officially broke below the 80,000 level, with a 24-hour drop of 1.7%. This round of decline was driven by the main players taking profits at high levels, creating a cascading “stampede” effect. Spot outflows reached the highest level in two weeks. Bitcoin spot net outflows were 269 million, Ethereum spot net outflows were 104 million, and total liquidations over the past 24 hours were 250 million. So tonight, when the non-farm payroll data is released, and given the situation, non-farm figures are very likely not to look good!

BTC
Currently, the 4-hour chart has broken below the support level. On the daily K-line, the top shows two consecutive inverted-hammer candles, which clearly suggests a move downward to fill the gap. During the day, watch for rebound resistance at 8040. As long as the hourly level cannot break above and hold, it indicates that the rebound lacks strength and the selloff will continue, testing support around 7800. Keep an eye on the lower support area here. During the day, maintain a bias toward staying bullish.

Around the 8040–8080 range, defend 8170. The target is 7910–7800; if it breaks down, look toward 7650.

ETH
Around the 2303–2322 range, defend 2358. The target is 2263; if it breaks down, look toward 2226-2180$BTC ‌#比特币跌破8万美元