Bitcoin plunges below $80K amid a wave of risk aversion

Bitcoin was the worst performer on Friday, sliding over 6% during Asian and early European trading.

The largest cryptocurrency remains under heavy pressure, primarily due to broader risk aversion fueled by U.S. tariff policies, which continue to create uncertainty and push investors toward safer assets.

Sentiment also weakened as hopes for a major overhaul of U.S. crypto market regulations, previously promised by President Trump, failed to materialize.

The price dipped below the key psychological $80K level, breaking through the significant Fibonacci support at $79,160 (50% retracement of the $48,738–$109,582 rally), marking its lowest levels since early November.

Bitcoin is on track for a 16% weekly loss and a record monthly decline in February, retracing more than half of the strong gains from November to January, which were driven by post-election euphoria.

The daily technical outlook remains bearish, supporting further downside, but oversold conditions and the significance of the $80K zone (100DMA / psychological support / 50% Fibonacci level) suggest bears may pause.

End-of-week and end-of-month profit-taking could also contribute to a corrective bounce.

The session high at $84,838 and the broken 38.2% Fibonacci level at $86,339 have now turned into resistance, with the key barrier at $90K (former major support) expected to cap extended recoveries and keep the bearish outlook intact.

Res: 81582; 82556; 84838; 86339

Sup: 80000; 79160; 78115; 75801