Bitcoin holds $81,000 support as bulls defend range
Bitcoin is consolidating in a tight range after testing $81,000 support twice in the past week. Analysts view the current structure as bullish, with a potential breakout to $90,000 expected once macro uncertainties clear.
Bitcoin is trading in a tight range, having tested the $81,000 support level twice in the last week. Bulls have reclaimed the $83,000 level, which was the high set in May 2026, confirming a bullish breakout. A flash crash occurred due to liquidations in Sandisk and the KOSPI Korean stock market exchange, triggering cross-margin forced selling in crypto. Analyst Ben Cowan noted that bulls remain in control, arguing that the current ranging market is a healthy consolidation phase. He stated that the bulls quickly stepped in to buy the dip and reclaimed the key $83,000 point. The key invalidation level for the bullish case is $75,500, the bottom of the range established since August. If Bitcoin holds above this level, the market structure remains bullish. The next expected move is a retest and break of $87,000 resistance to target $90,000. This move is potentially expected to occur after the US midterms and Fed FOMC meeting provide macro certainty.