Bitcoin Faces Potential Drop Below $80,000 Amid Economic uncertainty
According to 10x Research, Bitcoin (BTC) might dip below $80,000 this week. The digital assets research firm shared this outlook in a recent market update on X.
Two main factors are causing concern: U.S. tariffs and rising inflation.The firm noted that the U.S. core Personal Consumption Expenditures data was higher than expected. This suggests inflation is still a problem. Also, former President Donald Trump’s comments on tariffs have added to the uncertainty.There’s a fear that tough trade policies could hurt the economy.
Bitcoin’s recent rise has slowed down. The hot core PCE data and tariff worries are affecting consumer confidence. 10x Research also mentioned the upcoming U.S. ISM Manufacturing PMI. If this data is weaker than expected, it could make investors more cautious. This could spread to the crypto market.
Strong employment numbers might delay Federal Reserve action,reducing the chance of a market bounce. Despite these risks, market volatility is still low. this could mean traders are not fully prepared for a potential drop.
With several risk factors at play, Bitcoin’s recent gains seem fragile. If economic pressures continue, BTC could see more declines in the coming days.
