'Heavy' Bitcoin Needs to Reclaim $80,000 to Invalidate Bears: Report

Bitcoin (CRYPTO: BTC) trades near $77,500 Tuesday, below the $80,000 level that market maker Wintermute calls the level that “defines this market.”

Wintermute noted in its November 2026 market update that investors primarily bought the dip through leveraged perpetual futures rather than spot markets, leaving BTC without sufficient buying support.

“Bitcoin has lost $80,000 level,” Wintermute’s Jasper De Maere wrote. “The market still feels heavy post the $1.5 billion liquidation.”

The $6.3 billion hack of cryptocurrency exchange Binance on Oct. 29 .5 overshadowed the Federal Reserve’s decision to hold interest rates

AI Spending Concerns Weigh On Tech

Crypto was already weak before the hack

Intel’s 29% plunge and Alphabet’s decline fueled AI spending concerns over negative free cash flow, rising debt and power costs.

Stronger-than-expected Q3 GDP growth of 3.4% helped cushion broader markets despite weakness in AI-linked stocks.

Can Bitcoin Reclaim $80,000?

Wintermute identifies $78,000 as Bitcoin’s immediate level to watch after it lost the critical $80,000 threshold.

The 50-week moving average near $76,800 represents the next major support.

A sustained recovery above $80,000, backed by spot buying and ETF inflows, could restore short-term confidence.

A breakdown below $76,800 would strengthen the bearish outlook, particularly as leveraged buying has yet to translate into sustained spot demand.

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