Bitcoin (BTC) Dips Below $80K Ahead of April 6 Weekly Close, Shedding 3% From the Week's Start

Bitcoin (BTC) fell below the key $80,000 level heading into the April 6 weekly close, shedding 3% since the week’s start

Bitcoin (BTC) fell below the key $80,000 level heading into the April 6 weekly close, shedding 3% since the week’s start amid intensifying fears of a global market crash reminiscent of 1987’s Black Monday.

However, crypto traders remain cautiously optimistic, as BTC continues to decouple from traditional markets in the face of macroeconomic headwinds.

Stocks Dive, Bitcoin Holds Relative Strength

U.S. stock indices plunged nearly 6% on April 4, wiping out over $8.2 trillion in market capitalization following President Trump’s sweeping trade tariff announcement. Commentators likened the week’s bloodbath to the 2008 financial crisis and even the October 1987 crash, with CNBC’s Jim Cramer warning that a repeat of the “Black Monday” collapse is “not off the table yet.”

Meanwhile, Bitcoin dipped below $80,000, but analysts noted the move as relatively minor compared to the chaos in equities. At press time, BTC was trading near $79,700, down just 3% for the week, showcasing its increasing resilience to traditional market turmoil.

“The VIX (Volatility Index) just closed at its highest level since the COVID crash in 2020, while BTC volatility is compressing — a rare divergence,” noted crypto analyst Daan Crypto Trades. “This sets the stage for a major breakout in crypto next week.”

Analysts Eye $150K–$220K Bitcoin Run As Safe Haven Appeal Grows

Despite short-term downside, bullish sentiment remains high among Bitcoin supporters. Some predict a massive upside move could follow this week’s volatility:

Max Keiser boldly forecast a Bitcoin price surge to $220,000 by month-end, calling it the “ultimate safe haven” amid trillions fleeing collapsing equity markets.

Crypto Caesar and CryptoElites both shared charts suggesting that BTC could soon begin its “last push” of the cycle — possibly targeting $150,000 .

BTC Price Setup: Fakeout Or Trend Reversal?

Technical analysts are watching Bitcoin’s weekly structure closely. The recent dip to $76,000 is being compared by some to past "fake breakdowns", similar to the post-ETF dump in January and August 2024’s correction.

“This looks no different than the post-ETF and August crashes. A weekly close above $92K would confirm the uptrend.” trader Cas Abbe said.

Still, some warn that Bitcoin remains vulnerable to global macro shocks, particularly if U.S. bond market volatility escalates, echoing the 2020 COVID-era ‘dash for cash.’

Bottom Line

As global markets teeter under record-breaking sell-offs, Bitcoin’s modest drop below $80K appears relatively controlled—a signal of its growing maturity and safe-haven narrative.

With compressed volatility and strong divergence from equities, many crypto analysts believe a decisive move is imminent.

Next week’s trading sessions—particularly for stocks and U.S. Treasury yields—will be critical in determining whether Bitcoin breaks higher or joins the broader risk-asset retreat, according to Cointelegraph.

BTC Support To Watch: $76K

Bullish Reclaim Target: $92K

Market Volatility Indicator: VIX at COVID-crash levels

Macro Trigger Ahead: Early-week market open response to tariff sell-off

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