Bitcoin Price Analysis: BTC Clings to $80K Support – Is a Deeper Correction Looming?

Bitcoin is trading above $80K after another rejection from the $87K supply zone, which has put the mid-channel support under pressure. The pullback leaves the market testing whether the broader recovery structure can hold or whether a deeper correction is developing. Meanwhile, the declining miner reserve suggests that supply pressure from miners has not fully eased. Bitcoin Price Analysis: The Daily Chart Bitcoin continues to trade within a broad ascending channel that has guided the recovery since the June lows. However, the repeated rejections near the upper boundary around $87K, inside the $85.5K–$90K supply zone, have weakened momentum and pushed BTC back toward the channel’s midline. The asset is now testing the midline around $80K, a key support level.

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