Bitcoin prices fall to just above $80,000, with potential test of $78,000 and $75,000 support

From Cointelegraph

March 9, 2025 11:58:57 pm:

Bitcoin prices have fallen to just above $80,000, with predictions of retesting $78,000 and potentially dropping to $75,000 next. Open interest in Bitcoin options is high in the $70,000 to $80,000 range, with $696 million in OI at the $70,000 strike price. Bitcoin has plunged over 5% in the past 24 hours, hitting $80,124 before a slight recovery to $81,395. The asset has been volatile, bouncing between $80,000 and $95,000 due to trade tariff-related news reports. Market research firm 10x Research labeled it a “textbook correction” on March 10. The Bitcoin Fear & Greed Index has fallen back into “extreme fear,” with a reading of 20 on March 10.

The volatility may continue as key inflation reports are due in the United States, potentially impacting Federal Reserve monetary policy. Canada has responded with retaliatory tariffs as the Liberal Party elected former central banker Mark Carney as president, who vowed that “Canada will win” in trade disputes with the U.S.

Read more at Cointelegraph: Bitcoin dips to $80K in ‘ugly start,’ could retest key resistance: Hayes