Bitcoin Faces Potential Drop Below $80,000 Amid Economic Uncertainty
According to 10x research, Bitcoin (BTC) may dip below $80,000 this week. Teh digital assets firm shared this outlook in a recent market update on X.
Two main factors are causing concern: U.S. tariffs and inflation. The core Personal Consumption Expenditures (PCE) data came in higher than expected, signaling ongoing inflation. This data, combined with former president Trumpâs tariff rhetoric, is creating economic uncertainty.
Bitcoinâs recent rally has stalled due to these factors. The core PCE data suggests inflation is still a problem, partly because of Trumpâs tariffs. This is affecting consumer sentiment.
Weak U.S. ISM Manufacturing PMI data could also trigger further declines. If the data is worse than expected, risk aversion might increase, impacting the crypto market.
Strong employment numbers may delay Federal Reserve action, reducing the chance of a market rebound.Despite this, market volatility is low, with the VIX at low levels. This suggests traders might not be fully prepared for a potential downturn.
With these risks in play, Bitcoinâs recent gains seem fragile. If macroeconomic pressures continue, BTC could face more declines in the coming days.
