The asset fell to its lowest level in 2025 on Feb.28 when it dipped into the $78,000 zone, and it appears to be heading back there. Market research firm 10x Research labeled it a “textbook correction” in a note on March 10. “With Bitcoin dipping below $80,000, approximately 70% of all selling came from investors who bought within the last three months,” the analysts noted before adding that this highlights “the dominance of recent entrants panic-selling into the decline.”Related: Bitcoin slides another 3% — Is BTC price headed for $69K next?
Bitcoin prices continued to retreat over the weekend falling to just above $80,000 on March 10 in what one analyst has described as an “ugly start” to the week. “It looks like Bitcoin (BTC) will retest $78,000,” said BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes on X following the asset’s decline.“If it fails, $75,000 is next in the crosshairs,” he added.
According to Deribit data, there is $696 million in OI at the $70,000 strike price, $659 million at $75,000 and $680 million at $80,000 as derivatives speculators bet short on the asset. Bitcoin has plunged more than 5% over the past 24 hours, hitting $80,124 before a minor recovery to trade at $81,395 at the time of writing. Bitcoin price has declined over the last 24 hours.
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Author / Journalist: Cointelegraph by Martin Young
The story "Bitcoin dips to $80K in ‘ugly start,’ could retest key resistance: Hayes" has 526 words across 20 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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