Bitcoin Tumbles After Trump’s Crypto Summit – Is $80K Back in Play?

Key Takeaways:

• Bitcoin struggles to maintain its six-day streak above $80K after a sharp decline.
• Trump’s crypto summit speech lacked new policy announcements, disappointing market expectations.
• BTC could slide to $81K if key support levels fail, as post-Fed uncertainty lingers.

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Market Overview

Bitcoin’s rally above $80,000 is facing its toughest test yet, as the market reaction to President Trump’s highly anticipated crypto summit speech failed to sustain bullish momentum. BTC is now at risk of breaking key support levels, with $81,000-$80,000 emerging as potential downside targets.

Market Sentiment Shifts as Trump Speech Underwhelms

Leading up to Trump’s speech, Bitcoin trading volumes surged 48% in 24 hours, reaching $37.2 billion, according to CoinMarketCap. Market participants had positioned themselves for potential bullish surprises, but the two-minute address from Trump delivered little beyond reaffirmations of his crypto-friendly stance.

Rather than outlining specific regulatory changes or incentives, Trump simply reiterated his ambition to make the U.S. the “crypto capital of the world.” This lack of fresh policy support sent BTC into sell-off mode, exacerbating market jitters already stirred by the Federal Reserve’s rate decision.

Meanwhile, liquidation data from CoinGlass reveals that $315 million in crypto positions were wiped out in the last 24 hours, split evenly between longs and shorts. This indicates increased volatility as traders react to both the Fed’s stance on rate cuts and the uncertain regulatory environment.

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Technical Analysis: Bitcoin Faces Critical Test

BTC Struggles to Hold Above $80K

Despite Bitcoin’s recent strength, key resistance at $95,000 remains unbroken, reinforcing a broader downtrend structure.

Bitcoin’s short-term support levels:

• $83,600 – Holding this level could allow BTC to stabilize.
• $81,000 – A crucial support zone if the current sell-off accelerates.
• $80,000 – The psychological level that could invite deeper declines.

Technical indicators are sending mixed signals:

• Relative Strength Index (RSI) has dropped to 31%, approaching oversold territory, hinting at potential short-term weakness.
• MACD histogram shows increasing bearish momentum, reinforcing the possibility of further downside.
• The Fear & Greed Index has moved from extreme panic (17) to fear (31), indicating that sentiment is slowly improving but still remains fragile.

📊 Here’s a 4-hour TradingView chart of BTC/USD highlighting key levels and trends. (Chart will be generated and displayed shortly.)

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Potential Price Scenarios: What’s Next for Bitcoin?

Bullish Case: BTC Holds Above $83,600

If BTC maintains support at $83,600, it could stabilize and retest resistance levels at $86,500 and $90,000. A break above these would strengthen the case for a return to $95,000.

Bearish Case: BTC Drops to $81K or Lower

If BTC fails to hold $83,600, the next likely targets are $81,000 and $80,000. Breaking these could trigger a deeper correction, possibly revisiting $78,000.

🚀 Key catalyst to watch: Any unexpected policy shift from the Trump administration or macro developments that could impact liquidity in crypto markets.

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Final Thoughts

Bitcoin’s latest drop reflects investor disappointment over Trump’s speech and ongoing market uncertainty post-Fed decision. With key support levels now being tested, the next few sessions will determine whether BTC can maintain its bullish structure or slide back toward $80K.

🔔 Traders should keep an eye on:

• $83,600 support level
• $81,000 downside target
• Macro events that could fuel volatility

Stay tuned for further updates as market conditions evolve with Daily Forex Pakistan! 📉📈