The crypto market is facing another wave of selling pressure today.
Bitcoin has dropped below $83,000, while XRP has also suffered a significant decline among major cryptocurrencies. Around $550 million in leveraged crypto positions were liquidated as traders betting on higher prices were forced out of their positions.
One major factor behind the market pressure is the rise in oil prices and growing geopolitical tensions. Brent crude moved above $102 per barrel, while U.S. Treasury yields also climbed. Higher oil prices and rising yields can put additional pressure on risk assets such as cryptocurrencies.
📉 What happens next?
Some analysts are watching the $80,000 level closely. If Bitcoin cannot recover above $83K, further downside could become possible.
However, crypto markets can move very quickly, and a sharp rebound is also possible after heavy liquidations.
What do you think?
👉 Will Bitcoin recover above $85K soon, or will we see BTC test $80K?
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