Bitcoin opened December with a move lower, trading under pressure after failing to hold above $93,000. As of press time, the asset is around $86,800, down slightly in the past 24 hours and almost 2% over the last week. The recent decline has brought the market close to an area that several analysts are calling an important support zone.
Now, though, a major support level has come to play as it was tested yesterday.
Analysts Focus on the $83K–$81K Zone
Michaël van de Poppe, a well-followed crypto analyst, said Bitcoin is nearing a key area where buyers may step in.
“Let’s see how prices are going to react when Bitcoin tests beneath that low at $83.4K,” he said.
He added that if this level fails to hold, the market could move toward $81K to find support.
Bitcoin recently failed to break through the $91,800 zone, which had been marked as an important resistance level. Following that rejection, the price dropped sharply on increased volume. The downtrend remains intact, with low
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