Bitcoin tried to break $80,000 again on Monday morning and got turned away, slipping below $79,000 before finding support. The rejection is the latest in a series of failed attempts that have kept the price pinned below the round number since mid-August, even after a brief surge to $82,400 on Thursday.
The $80K wall
Bitcoin's attempts to clear $80,000 and $81,000 have been repeatedly halted since mid-August. On Thursday, it finally pushed to $82,400, the highest level since mid-May, but the rally didn't stick. Friday's US jobs report knocked it back to $78,800, and Monday's attempt at $80,000 met the same resistance. The coin is now trading around $79,000, with a market cap of $1.6 trillion on CoinMarketCap.
Altcoin movers
While Bitcoin struggled, some altcoins had a strong session. LINK jumped 9% to above $13, TAO climbed 14% to $267, MNT rose 7.5% to $0.635, ICP gained 12.6%, and WLD surged over 14.5%. On the other side, ARB was rejected at $0.20 and is now 13% below its peak from yesterday. Ethereum is struggling below $2,500, BNB dipped beneath $750, and XRP is fighting to stay above $1.40.
Market breadth
The total crypto market cap sits at $2.710 trillion on CoinMarketCap, essentially unchanged from yesterday. Pi Network's native token remains above $0.09 support and challenged the $0.095 resistance but is just below it. The lack of movement in the overall cap suggests traders are waiting for a clearer direction from Bitcoin.
Reclaiming $80K
The $80,000 level has now rejected Bitcoin multiple times since mid-August. Whether it breaks through depends on whether buyers can hold the recent lows. For now, the market is watching to see if the coin can reclaim that level in the coming sessions, with the jobs report still fresh in traders' minds.
