Bitcoin price drops below $80,000 after failing to surpass 200-day moving average
Bitcoin’s price recently fell short of topping its 200-day moving average, the average closing price over the period.
The move mirrors its activity during 2022, which preceded a significant drop in the price.
Bitcoin was unable to surpass its 200-day moving average price around $82,430, and is still well above a key support level around $70,000.
Unrealized profits levels are also high, potentially adding to sell pressure, with traders’ unrealized profit margins reaching 17.7% on May 5, the highest reading since June 2025.