XRP Dips Below Crucial Support, BTC Slides Toward $78K: Market Watch

Bitcoin’s price was rejected at $80,000 once again yesterday morning, and the subsequent correction has taken it south by over two grand. Some of the larger-cap alts, such as HYPE, ZEC, XMR, and LINK, have posted substantial daily losses, while BNB has reclaimed the $750 level.

BTC Down to $78K The primary cryptocurrency spent the previous weekend trading sideways between $77,000 and $79,000 after that Friday’s rejection at $81,500.

It tried to break out on Monday, but it was halted and driven south first to $77,200 and then to $76,400 as the week progressed. The bulls finally stepped up on Thursday. At first, they helped BTC halt the freefall. Then came the major leg up.

In a matter of hours, bitcoin skyrocketed by several grand and surged to a new three-month high of almost $82,500. However, the same rejection scenario repeated and worsened after the stronger-than-expected US jobs report on Friday.