Bitcoin traders are growing more bearish on the cryptocurrency's next price move. Resistance at $82,000 remains unbroken, opening the door to a potential downtrend.
Market participants are shifting their outlook on Bitcoin after the digital asset failed to turn the $82,000 level into support. This resistance has stayed firmly in place, prompting analysts to flag the possibility of a break lower in the near term.
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Bitcoin briefly fell below $80,000 on Thursday as analysts noted rising profit taking among traders. The move came despite recent technical signals pointing to potential upward momentum.
Bitcoin traders are holding out for one more price dip before expecting the uptrend to resume with new highs.
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Bitcoin has encountered strong rejection near the $72,000 resistance level, maintaining its position within a broader trading range and signaling weakened short-term momentum. The loss of key support levels, including the Point of Control, heightens the chances of a decline toward the $60,000 range low. Traders are monitoring whether the range support will hold amid bearish technical indicators.
Bitcoin surged above $80,000 for the first time since January during early Asian trading on May 4, 2026, reaching highs around $80,600. The cryptocurrency later pulled back to around $79,000 following reports of an Iranian missile strike on a U.S. warship, which the U.S. denied. Geopolitical risks near the Strait of Hormuz overshadowed strong ETF inflows supporting the rally.
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Bitcoin traded at $79,083 on May 15, down more than 3 percent after failing to hold above $82,000 resistance. Rising US Treasury yields are drawing institutional capital away from the cryptocurrency and into government debt.