Bitcoin suddenly jumped from $80K to over $87K on Sunday despite weeks of heavy losses

The post Bitcoin suddenly jumped from $80K to over $87K on Sunday despite weeks of heavy losses appeared on BitcoinEthereumNews.com.

Bitcoin shocked the entire market after ripping past $87,000 out of nowhere on an otherwise boring Sunday. A few hours earlier, the king was stuck near $80,000, looking as weak as the rest of the crypto sector. More than $1 trillion has been erased from crypto in the past nine days, as Bitcoin crashed to its lowest level since April, putting this month on track to be its worst since 2022. The coin is still down over 33% from the $126,000 peak it hit in early October, which places it deep in bear‑market territory. Even with today’s rally, Bitcoin is still down about 10% for the year. Several analysts warned that more selling could push it toward its first yearly loss since 2022. That’s also why so many traders reacted with disbelief when the price shot upward today. The market has been drowning in red candles all month, and most people were bracing for more pain, not a sudden $7,000 swing. Analysts track selloff pressure Hyunsu Jung, who runs Hyperion DeFi, said the move today doesn’t change the bigger picture. Jung said, “It seems early in the selloff process.” He added that it’s “difficult to attribute selling to a single factor,” pointing to a broad pullback hitting both equities and crypto. Jung said risk assets have been under pressure due to several issues, including “potential exhaustion of the AI trade,” global rate uncertainty, and large players like corporate treasuries and, most importantly, BlackRock shareholders incessantly moving more and more of their cash out of crypto in favor of equities. Jung also pointed to a technical weakness building since October. When Bitcoin climbed earlier that month, the RSI did not rise with it. This signaled more downside ahead. That warning played out when the coin broke through the $106,000 support level,…