BTC Rejection at $80,000 Strengthens Case for a Drop to $65,000

Bitcoin reversed sharply on Thursday, wiping out the gains it made after Democrats took both chambers of Congress. Crypto stocks fell harder than the broader market, and a key market structure bill now looks stalled until next year. The reversal leaves Bitcoin sitting on its last major trend line, with sellers controlling momentum. Traders now want to know whether buyers can defend this level. Bitcoin gave back its entire post-election bounce on Thursday. The largest cryptocurrency fell about 5% and traded near $75,433 late in the session.

Source: Crypto Daily