Bitcoin Struggles Below $80K Amid Market Volatility

Bitcoin has been facing challenges in breaking through the $82,600 resistance level, causing it to trade below $80,000. This decline follows three consecutive days of losses for the leading cryptocurrency by market capitalization.

The increased volatility in the market has led to a surge in forced liquidations of highly leveraged bullish positions in the futures market. According to CoinGlass, total liquidations over the last 24 hours amount to roughly $370 million, with long liquidations totaling $311 million.