The asset fell to its lowest level in 2025 on Feb.28 when it dipped into the $78,000 zone, and it appears to be heading back there. Market research firm 10x Research labeled it a “textbook correction” in a note on March 10. “With Bitcoin dipping below $80,000, approximately 70% of all selling came from investors who bought within the last three months,” the analysts noted before adding that this highlights “the dominance of recent entrants panic-selling into the decline.”Related: Bitcoin slides another 3% — Is BTC price headed for $69K next?
Bitcoin prices continued to retreat over the weekend falling to just above $80,000 on March 10 in what one analyst has described as an “ugly start” to the week. “It looks like Bitcoin (BTC) will retest $78,000,” said BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes on X following the asset’s decline.“If it fails, $75,000 is next in the crosshairs,” he added.
According to Deribit data, there is $696 million in OI at the $70,000 strike price, $659 million at $75,000 and $680 million at $80,000 as derivatives speculators bet short on the asset. Bitcoin has plunged more than 5% over the past 24 hours, hitting $80,124 before a minor recovery to trade at $81,395 at the time of writing. Bitcoin price has declined over the last 24 hours.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Martin Young
The story "Bitcoin dips to $80K in ‘ugly start,’ could retest key resistance: Hayes" has 526 words across 20 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin dips to $80K in ‘ugly start,’ could retest key resistance: Hayes" was covered 21 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 653 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
