Bitcoin Price Plunges Below $84K as Rally Snaps
Bitcoins rally abruptly ended as its price dropped below $84,000, reaching an intraday low of $83,508 shortly after failing to hold above $87,000. Key TakeawaysBitcoin dropped below $84,000 after failing to breach resistance at $87,000 on Wednesday.Coinglass data shows the crash triggered $423M in long liquidations, pulling the total crypto market cap under $3T.Analyst Rekt Capital said BTC must hold support near $80,000 to confirm a macro breakout. Rejection at Key Resistance Bitcoins latest rally snapped Wednesday as the cryptocurrency dipped below $84,000 for the first time since Monday. The reversal came just hours after it breached $87,000 for the second time this week, following a gradual climb that saw the cryptocurrency add nearly $2,000 in under 12 hours. Before its sharp downturn, bitcoin responded to the rejection at $87,000 with a gradual decline, seemingly finding a floor just below $85,300. Although a brief relief rally attempted to push prices back up, the momentum fizzled out before bitcoin reached $86,000. The breakdown at $86,000 unleashed a sharp wave of selling, knocking bitcoin down $2,000 within 30 minutes to a low of $83,508. A quick relief bounce to $84,800 failed to alter the trajectory, though prices managed to settle above $84,000 by midday. The pullback left bitcoin









