Bitcoin (BTC) Faces Risk of Pullback from $80K as Nasdaq Rally Loses Momentum

The momentum behind Bitcoin's push toward the $80,000 mark is encountering significant headwinds. Analysts are pointing to a stalling rebound in the Nasdaq stock index as a key risk factor. Historically, Bitcoin has shown a correlation with tech-heavy equity indices like the Nasdaq. As the Nasdaq's recovery falters, it raises concerns about a potential "check-back" or corrective pullback for BTC from its recent highs. Market participants are now closely monitoring support levels, as a failure to hold could see Bitcoin retreat to lower price ranges. This interplay highlights Bitcoin's ongoing sensitivity to traditional market sentiment and risk appetite.