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business1d ago
Bitcoin Buckles Again: Is $80K the Next Stop as Crypto's Safety Nets Unravel?
- Bitcoin fell as much as 6% to below $86,000 in early Asia trading, pulling other major tokens lower.
- Traders see the $80,000 region as a potential next support level amid a cautious market mood.
- Levered bets faced a sharp wipeout earlier in October, signaling stressed positioning.
- Strategy Inc. indicated it could sell Bitcoin if its mNAV ratio falls below 1x, signaling potential supply pressure.
- S&P Global Ratings downgraded USDT's stability assessment, raising concerns about collateral adequacy if Bitcoin weakens.
- CoinEx noted the USDT downgrade and Chinese regulatory warnings may have revived selling momentum.
- Markets await upcoming data that could influence Federal Reserve policy expectations for 2026.
- Asian equities were mixed as traders weighed global policy signals and currency moves.
- Bitcoin briefly reclaimed levels above $90,000 last week before recent pullback.
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