Bitcoin tests $80,000 as BNB, HYPE and ADA face key supports

What happened

Bitcoin is testing the $80,000 mark again after sliding from its recent high. The price trades near $80,100, down approximately 1.8% on the day, and the daily low touched exactly $80,000, where buyers stepped in. The bounce has been weak. The coin rose from approximately $63,000 in August to nearly $87,500 in late September, failed to break higher in early October and has given back roughly 8% from that peak.

BNB is down approximately 1.2% on the day and trades near $717. It reached a low of $708.89 earlier before buyers pushed it back up a little. The coin climbed from approximately $540 in late June to a high near $810 in early October, a gain of approximately 50%, and has since fallen approximately 11%. Its RSI has slid to approximately 38.

Cardano closed 3% lower this week and is struggling to hold above the $0.23 support. Hyperliquid lost 5% this week, the worst performer on the CryptoPotato list, and sits close to the support at $76 after sellers dominated since the price hit resistance at $97.

Why it matters

Bitcoin sits right at the 50-day moving average near $80,300, a line that has held the trend since the August breakout. It has already slipped below the shorter averages at approximately $81,200 and $82,400. A break below $80,000 on rising volume could pull the price toward $77,000, where the 100-day average near $76,600 and the 200-day average near $75,600 form a thick floor.

BNB faces its most important level at $700, where the 100-day average sits, with the price only 2.5% above it. The 200-day average near $686 offers a second layer of support. CryptoPotato expects a test of the $690 support in the coming week and says BNB could fall toward $600 if BTC and ETH stay bearish.

For HYPE, a loss of $76 would let bears dominate, and CryptoPotato says new all-time highs before the end of the year would then be hard to imagine. For ADA, the next key level below is $0.20, and the report says the bearish price action is likely only starting and may take a few weeks to reach its high point.

What is still unclear

• Bitcoin's recent red candles have not come with heavy volume, so the move looks more like gradual selling than panic. That is good for bulls, but it also means buyers are not showing strong interest yet.
• CryptoPotato says the current sentiment on XRP leans bearish, but until $1.3 breaks it can still go either way.

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