Analysts warn of Bitcoin selloff risk below $82,800 support
- —Bitcoin's market cap dropped more than $25 billion in 24 hours to $1.65 trillion
- —BTC trades near $82,480, down about 2% on the day, with volume up 99% to $22.8 billion
- —Kibar: the breakout above $82,800 is hesitant; a breakdown could return BTC to a range as low as $60,000
- —US 10- and 30-year Treasury yields at their highest since 2002 weigh on crypto
Why it matters: The $82,800 level is pivotal for the near-term trend: losing it could open the door to $60,000, while holding it sets up a recovery.
Source: Finbold