Bitcoin Price Analysis: BTC Tests $80K Support as Risks Rise
Bitcoin price analysis shows BTC trading just above $80,000 after repeated rejection near the $87,000 resistance zone. The pullback has put the ascending channel’s midline under pressure and weakened the short-term structure.
On the daily chart, a decisive break below roughly $80,000 could expose support between $75,000 and $78,000, followed by the channel boundary near $73,000. On the four-hour chart, BTC has fallen below a shorter-term rising channel. Reclaiming $81,000 could open a move toward $84,000 and then $87,000; a drop below the recent low near $79,000 would increase the risk of a test of $75,000.
On-chain data adds a note of caution: CryptoQuant’s 30-day EMA for miner reserves has fallen from about 2 million BTC in early 2025 to around 1.1925 million BTC. The decline suggests miners have continued distributing coins, though it does not by itself confirm a bearish trend. Traders are watching whether Bitcoin can hold $80,000 or recover above nearby resistance.
Bearish
The near-term balance of evidence is bearish, but not conclusive. Bitcoin has repeatedly failed to break through the $85,500–$90,000 supply zone, formed lower highs, and slipped below a short-term ascending channel. If BTC cannot reclaim $81,000 and loses the $80,000 mid-channel support, traders may look to the $75,000–$78,000 demand zone. A break below the recent low near $79,000 could accelerate that move, while the lower channel boundary near $73,000 is a more distant support.
The declining miner-reserve trend adds to selling-pressure concerns. Miners can distribute BTC for operational costs, so the data is not a standalone signal of a market downturn; nevertheless, the lack of a clear reserve recovery offers little evidence that this source of supply has eased. Similar technical failures at resistance have often prompted short-term profit-taking and leveraged position liquidations, especially when support levels are widely watched.
The outlook could improve if Bitcoin reclaims $81,000 and then advances through $84,000, with $87,000 remaining the key resistance area. Holding $80,000 would also help preserve the broader ascending-channel recovery. Over the longer term, the miner data and price structure warrant caution, but neither proves that a renewed bear market is underway. Traders may therefore watch daily closes, trading volume, and support reactions rather than treating a brief move below a level as confirmation.