- Bitcoin price faces resistance near the 200-day SMA at 83K
- Holding above 80.6K may support another bullish retest
- US CPI data could trigger the next major BTC price move
Bitcoin price traded near $81,000 on Thursday after failing to reclaim the key 200-day simple moving average near $83,300. The recent rebound helped Bitcoin recover from its February decline, when the asset briefly dropped 27% year-to-date. Despite the recovery, Bitcoin price remains down roughly 6% in 2026, keeping traders cautious ahead of fresh macroeconomic data.’
Santiment noted that a move toward $88,000 could restore Bitcoin to flat yearly performance. Analysts believe that level may attract sidelined investors back into the crypto market as risk appetite slowly improves across global assets.
Bitcoin Price Struggles Near Major Technical Resistance
Bitcoin’s price surged earlier this week before losing momentum and falling below the 200-day SMA, currently around $83,136. Technical analysts often view this indicator as a major trend signal for institutional traders.
At press time, BTC price was down 1.38% over the past 24 hours, trading near $80,850. The pullback came after buyers failed to sustain upward pressure near resistance levels. Bitcoin resistance around $83,000 now remains the immediate focus for short-term traders.
The 200-day exponential moving average near $82,162 also continues to act as a closely watched barrier. A decisive break above both moving averages could strengthen bullish sentiment across the crypto market.
Bitcoin Price Holds Key Support Before CPI Release
Market participants are now monitoring the $80,600 support zone. If Bitcoin price stays above that level, analysts expect another attempt toward the 200-day SMA in the coming sessions.
However, a breakdown below support may expose BTC price to deeper downside risks between $74,500 and $76,000. That range previously acted as a consolidation area during heightened selling pressure earlier this year.
The upcoming US Consumer Price Index report may shape expectations around Federal Reserve policy and broader market liquidity. Meanwhile, the S&P 500 continues to hover near record highs, while gold prices have traded sideways during the past month.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
