Key takeaways
- BTC fell below $86,000 on Monday, primarily due to macroeconomic pressures.
- The leading cryptocurrency could retest the $80,000 support level if the bearish trend persists.
BTC slips below $86,000
Bitcoin, the largest cryptocurrency by market capitalization, turned bearish in December and lost more than 5% of its value over the past 24 hours. At the time of writing, Bitcoin is trading just above $86,000 after briefly dipping into the $85,000 area earlier today.
The weak performance extended to altcoins as well: Ether is trading below $2,800 while XRP remains slightly above $2.00.
The recent sell-off followed comments from Bank of Japan Governor Kazuo Ueda, who said that if the economy continues to develop as expected, a rate increase could be considered. Higher interest rates would raise borrowing costs and could adversely affect carry trades, putting pressure on risk assets including crypto.
In addition, a hack of the Yearn Finance protocol reported earlier today added renewed downside pressure on Bitcoin and the broader crypto market. The latest rout erased over $140 billion from the crypto market cap in the last 24 hours and triggered liquidations of leveraged positions totaling roughly $500 million.
CURRENT MASSIVE DUMP: $140,000,000,000 wiped from crypto market cap in the last 4 hours. pic.twitter.com/c32OHlyafS
— Watcher.Guru (@WatcherGuru) 1 December 2025
Bitcoin faces renewed selling pressure
The BTC/USD daily chart remains bearish and decisive, with Bitcoin losing around 5% in recent hours. The top crypto is trading just above $86k as daily, weekly and monthly candles all signal bearish bias.
The daily RSI sits near 32, moving toward oversold territory after a brief recovery last week. If the daily RSI drops below 30 and remains there, Bitcoin could face additional downside in the near term.
Meanwhile, the MACD has shifted into bearish momentum, with a sell signal appearing a few hours ago.
If the sell-off continues, bears are likely to target support around $80,600. Failure to hold that level could open the door for Bitcoin to revisit the April low of $74,508 recorded on April 7.
Conversely, if buyers step in, Bitcoin could rebound toward $90,000 within hours or days.