What is driving Bitcoin price action today?

As reported by Tokenpost, UToday, and Bitcoin.com, media focus is on ETF outflows and price slipping below its 50-day moving average toward the 80000 round number. These are topics being reported in the news, not proven drivers of price action.

What are the key levels to watch for Bitcoin in the near term?

Bitcoin (BTC/USD) is currently positioned between S2 at 80413.86 and S1 at 80891.89. The nearest support is S2 at 80413.86, while the closest resistance is the 5-day low at 80792.22. Further up, the daily pivot stands at 81421.25.

Is Bitcoin still bullish despite the technical breach?

The daily trend is mixed, with price above the 200-day exponential moving average of 76015.94 but below the 50-day EMA at 80807.26. Shorter-term timeframes, including the 1-hour and 4-hour charts, currently show a downtrend.

Bitcoin (BTC/USD) news today: Sellers test support below $81,000

Market news Bearish bias Oct 24, 2026, 13:03 UTC

Marcus ReedTechnical Analysis Lead · ForexR analyst

Bitcoin tests key support as recent selling pressure pushes price below the 5-day low. The technical picture is mixed on the daily chart but bearish on shorter timeframes.

Financial analysts near multi monitor workstation using tablet device to analyze capital profit risks. Hedge f

Price80,704.56

Day change-0.82%

Day range80,297.59 - 81,343.69

ATR (14)2,173.62

Resistance	Level	Support	Level
R3	82,906.67	S1	80,891.89
R2	82,428.64	S2	80,413.86
R1	81,899.28	S3	79,884.50
Previous day high	81,950.61	Previous day low	80,943.22
20-day high	86,984.67	20-day low	79,659.68
Daily pivot 81,421.25. Data as of 2026-10-24 13:01 UTC; price from a live feed, levels computed from the previous completed daily bar.

Bitcoin (BTC/USD) 1-hour chart with the daily pivot at 81,421.25, R1 81,899.28, R2 82,428.64, S1 80,891.89, S2 80,413.86 and the bullish and bearish scenario paths — Bitcoin (BTC/USD), 1-hour candles with the daily pivot levels, the range between nearest support and resistance, and both scenario paths. Data as of 2026-10-24 13:01 UTC.

Current Price Position During the Session Overlap

Trading during the active overlap of the London and New York sessions, Bitcoin (BTC/USD) is currently quoted at 80704.56. This marks a daily decline of 0.82%, dropping 665.36 from the previous close. Market quotes currently show a bid of 80704.56 and an ask of 80720.02, resulting in a spread of 15.46.

The asset is currently sitting between S2 at 80413.86 and S1 at 80891.89 on the pivot ladder. The nearest overhead resistance is the 5-day low at 80792.22, a level positioned just 87.66 away from current trading. On the downside, immediate support is found at S2 at 80413.86, lying 290.70 below the current price.

Corporate Accumulation and ETF Outflows

As reported by Tokenpost, UToday, and Bitcoin.com, the financial media is currently focused on the cryptocurrency slipping toward the round number below at 80000. Coverage highlights reported exchange-traded fund outflows alongside the asset closing below its 50-day average. Separately, Tokenpost draws attention to business developments within the sector, pointing to corporate entities adding to their reserves and the launch of new blockchain consulting operations. It is important to note that these are themes being reported in the newsflow, rather than demonstrated drivers of today's price action.

Previous Session Context and Moving Averages

Looking at yesterday's performance, the asset recorded a close of 81369.92. That prior session saw trading constrained between a previous day high of 81950.61 and a previous day low of 80943.22, generating a daily range of 1007.39. Today, following a day open at 81258.30, the market has printed a day high of 81343.69 and pushed down to a day low of 80297.59. The resulting intraday range currently stands at 1046.10, which accounts for 48% of the 14-day average true range of 2173.62.

The technical structure presents a mixed picture on the daily chart. Price remains positioned above the 200-day exponential moving average at 76015.94, yet it has fallen below both the 20-day EMA at 82430.60 and the 50-day EMA at 80807.26. Meanwhile, the 14-day relative strength index on the daily timeframe registers a reading of 46.3.

Shorter timeframes confirm the recent downward momentum. The 4-hour chart displays a clear downtrend, tracking below its 20-period EMA of 81498.39 and 50-period EMA of 81934.52. The 1-hour chart mirrors this bearish state, with its 20-period EMA located at 80834.30 and the 50-period EMA at 81298.00.

Short-Term Performance and Market Sentiment

Zooming out to the near-term historical performance, the asset has declined by 0.20% over the trailing five days. That five-day window is defined by a 5-day high of 84844.39 and the aforementioned 5-day low of 80792.22. Expanding the timeline to the past 20 trading days reveals a larger decline of 4.74%, with the asset trading between a 20-day high of 86984.67 and a 20-day low of 79659.68.

News sentiment from an independent data provider currently shows a bearish opportunity reading of -50. The associated news volume sits exactly at 100% of its 90-day average. In the futures market, weekly CFTC Commitments of Traders data, as of the week to October 20, shows speculators reduced net long Bitcoin (BTC/USD). Specifically, non-commercial traders dropped their net long bets from 2534 contracts in the previous week down to 2418 contracts.

Market Outlook and Scenarios

Approaching the round number above at 81000, two potential technical paths emerge based on the pivot levels. To the downside, a break below S2 at 80413.86 would open the way to S3 at 79884.50; a move back above the daily pivot at 81421.25 would invalidate it. Conversely, a break above R1 at 81899.28 would open the way to R2 at 82428.64; a move back below the daily pivot at 81421.25 would invalidate that view.

Looking ahead, market participants will observe the London close at 16:00 UTC as the next transition in the trading day.