(MENAFN- Daily Forex)

• Bitcoin sold off sharply, losing more than 6% as prices slid toward the key $80,000 level.
• Support there is critical, but weakening sentiment and potential institutional retreat raise the risk of deeper declines toward $75,000 or even $55,000.

Bitcoin markets find themselves falling apart yet again during the trading session on Monday, as we have seen more than a 6% loss during the trading session. With this being said, it looks like we may be heading back toward the $80,000 level, which is a large round that psychologically significant figure and a very important area.

Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money

Previously, with that being said, the market will have a certain amount of support show up near the $80,000 level, but I don't necessarily think that we see it as sturdy as we did before. If we do, then that obviously would be a huge victory for Bitcoin because it shows that there's an actual floor there Behavior and Market Structure

That being said, it's worth noting that Bitcoin rolled over from its very first problem area in the form of $92,500 and then collapsed after a couple of days' worth of sideways action. I see a lot of cope out there online with this. And it will be interesting to see what the recovery would be like this time, due to the fact that it is now an institutional asset; it's no longer the retail traders' market. Therefore, institutions may simply walk away. They don't typically sit on 30 or 40% losses.

EURUSD Chart by TradingView

They may return eventually, but they aren't like the retail traders who will hold for years trying to get back to break even. In fact, I suspect a lot of the institutions have already left. At this point, $80,000 is a crucial level that Bitcoin must hold, or it will find itself at $75,000 really quickly. And then after that $55,000, rallies still are looked at with suspicion.

Ready to trade Bitcoin forex forecast? Here's a list of some of the best crypto brokers to check out.

MENAFN02122025000131011023ID1110426878