Bitcoin Faces Another Drop as $80M in Buy Orders Cluster at $78K–$79K

Bitcoin faces more downside pressure as buyers struggle to stop the ongoing price decline. Analyst Ted Pillows identified $78,000–$79,000 as the next key support zone, citing more than $80 million in buy orders clustered within that range. However, the concentration of buy orders does not guarantee a price rebound. Pillows noted that orders around $80,000 were filled the previous day, briefly lifting Bitcoin’s price before selling pressure returned. Bitcoin dropped to $79,278 on Monday before recovering to $80,291. Despite the rebound, the coin remains down about 5% over the past month. Pillows also highlighted Bitcoin’s three consecutive weekly losses, warning that a weekly close below $80,000 would increase the risk of further declines.

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