Bitcoin dropped below the closely watched $80,000 level on Sunday evening, tracking U.S. stock index futures sharply lower amid intensifying worries about the impact of tariffs.
The 50-day MA has crossed below the 200-day MA to form an ominous death cross, a chart pattern that warns of further selling.
Investors should watch key support levels near $74,000, $65,000, and $57,000, while also monitoring a major overhead area near $87,000.
According to data from blockchain analytics firm Parsec, the latest outflows happened within hours of the JELLY liquidation event, echoing a similar $300 million outflows seen during a previous Bitcoin btc-0.73%Bitcoin whale liquidation event. As a result, Hyperliquid’s hype-8.99%Hyperliquid USDC reserves have fallen from a high of $2.58 billion to $2.02 billion over the past 30 days.