Bitcoin Falls Into 'Extreme Fear' as Price Slides Below $80K

Bitcoin has declined roughly 13% over the past 30 days and slid below $80,000, a move that market-watchers described as driving sentiment into “extreme fear.” The pullback included the lowest levels for BTC since 2024 and has intensified caution among traders and analysts ^[1][3].

Traders and retail users have turned more bearish, with many assigning a high probability to further downside — a user poll placed a 68% chance of BTC reaching $69,000 after weekend lows. At the same time, price action shows attempts to recover from roughly $74,500 but faces resistance near $78,000–$80,000 and trades below the 100-hour simple moving average, leaving short-term upside fragile ^[3][4].

Market commentators remain divided on the outlook. Some analysts warned the decline could extend into a broader downturn, while others — including Compass Point analysts — argued the crypto bear market may be nearing an end and identified about $60,000 as a key Bitcoin floor, noting that further significant downside would likely require a U.S. equity bear market to materialize ^[2][5].

Broader market uncertainty and mixed technical signals mean the near-term path for BTC is unclear; traders are watching resistance near $78,000–$80,000 and support levels cited around $76,000–$60,000 for signs of follow-through ^[4][5].

Bitcoin's recent slump has lowered sentiment and split analyst views: short-term technical resistance persists while some firms flag a $60,000 floor if equity markets remain stable. Market participants will likely monitor the $76K–$80K range and broader equity conditions for the next directional cues ^[1][4][5].