Bitcoin Price Analysis: BTC Posts Relief Rally, Briefly Crosses $79,000 

Bitcoin (BTC) and the cryptocurrency market staged a strong relief rally after the weekend bloodbath, which saw prices across the board drop to multi-month lows, triggering billions in liquidations. BTC plunged to a low of $74,502 on Monday before rebounding to reclaim the $78,000 mark and move to its $78,666. 

The latest downtrend has been attributed to regulatory uncertainty, geopolitical tensions, macroeconomic headwinds, and a hawkish outlook for Federal Reserve policy. 

Binance Restores Withdrawals After Disruption 

Binance has restored withdrawals after a brief outage due to technical difficulties. The exchange alerted users about the issue in a post on X, stating, 

We are aware of some technical difficulties affecting withdrawals on the platform. Our team is already working on a fix, and services will resume as soon as possible.

According to reports, the disruption lasted around 20 minutes, with Binance fixing the issue and bringing withdrawals back online. The disruption occurred at a challenging time for the crypto industry, as Bitcoin (BTC) and other tokens plummeted to multi-month lows. According to CoinGlass, around 2.56 billion were liquidated, as digital assets, equities, and metals plunged as part of a broader market pullback.

Strategy Announces Bitcoin Buy Despite BTC Falling Below Average Cost 

Latest SEC filings have revealed that Strategy has bought 855 BTC at around $88,000 per coin. The purchase comes despite the asset falling below its average cost for the first time since 2023. The flagship cryptocurrency started the week above $87,000 before briefly tapping $90,000. However, it lost momentum over the weekend and plunged to a low of $75,000 on Sunday, before dropping even further on Monday. Strategy currently holds 713,502 BTC, purchased for around $54.2 billion. 

Strategy executive chairman Michael Saylor hinted at the buy in a cryptic post on X, stating, 

“More orange.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) made a recovery of sorts after the weekend’s dramatic selloff, which saw billions liquidated as prices fell to multi-month lows. The flagship cryptocurrency slipped below $75,000 on Monday, dropping to a low of $74,502 before recovering to reclaim the $78,000 mark and settling at $78,666. The price is marginally down during the ongoing session, trading around $78,318. 

Spot Bitcoin ETFs also rebounded after a week of heavy outflows, pulling in around $562 million in inflows and breaking a four-day outflow streak that saw around $1.5 billion in outflows. However, analysts have cautioned that ETFs and the broader cryptocurrency market will continue to face pressure due to institutional selling and macro uncertainty. ETFs rebounded late on Monday as Bitcoin recovered from a low of $75,000 to briefly reclaim the $79,000 mark before moving to its current level of $78,316. 

Markets plunged over the weekend, with selling pressure intensified by prolonged liquidations and thin liquidity. Gabe Selby, Head of Research at CF Benchmarks, stated, 

Bitcoin has completed the bearish sequence that began with the October 10 deleveraging event, with the recent washout retesting—and briefly undercutting—the April 2025 ‘Liberation Day’ lows around $74,000.

Bitcoin ended the previous weekend in the red, dropping nearly 3% on Sunday to $86,561. The price recovered on Monday, rising almost 2% to cross $88,000 and settle at $88,250. Buyers retained control on Tuesday as the flagship cryptocurrency rose 0.98% to $89,116. BTC briefly crossed the $90,000 mark on Wednesday and reached an intraday high of $90,476 before settling at 89,162.

Source: TradingView

Selling pressure returned on Thursday as BTC plunged over 5% to $84,513. Buyers retained control on Friday as the price fell to $81,000 before settling at $84,110. Selling pressure intensified on Saturday as BTC plunged below the key $80,000 mark, falling to a low of $75,644 before settling at $78,648. Price action remained bearish on Sunday as BTC fell 2.24% to $76,895. The current week started with BTC falling to $74,502, its lowest level since April 2025. The price recovered to reclaim the $78,000 mark and settle at $78,666. BTC is marginally down during the ongoing session, trading around $78,324.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.