#BTCBelow80K Bitcoin Slips Below $80K Amid Global Market Turmoil, Traders Eye Rebound
Bitcoin (BTC) dipped under $80,000 heading into the April 6 weekly close, dropping around 3% as fears of a global market meltdown stirred memories of the infamous 1987 “Black Monday.” Despite the sell-off, BTC’s resilience compared to traditional markets is fueling cautious optimism among crypto traders.
U.S. stock markets were hit hard, plunging nearly 6% after President Trump’s sweeping trade tariffs sparked panic, wiping out over $8.2 trillion in market value. Analysts drew parallels to the 2008 crisis and the 1987 crash, with Jim Cramer warning of a potential repeat of “Black Monday.” In contrast, Bitcoin’s drop was relatively contained, trading near $79,700.
Crypto analyst Daan Crypto Trades pointed out an unusual divergence: the VIX, Wall Street’s volatility index, soared to its highest since the COVID crash, while Bitcoin’s volatility continued to compress — a setup that could trigger a major crypto breakout.
Bullish sentiment remains strong, with some analysts predicting a surge to $150K–$220K as Bitcoin’s safe-haven narrative gains traction. Max Keiser sees BTC hitting $220,000 by month-end, while others suggest the recent dip mirrors past “fakeouts” before major rallies.
Technical traders are watching $76K as key support and eyeing a $92K reclaim to confirm continued bullish momentum. Still, global macro uncertainty — especially in bond markets — could challenge Bitcoin’s next move.
Bottom line: As traditional markets reel, Bitcoin is showing surprising strength. With volatility compressed and key technical levels in play, traders are bracing for a decisive breakout or breakdown in the coming week.
