<ul><li>Bitcoin is facing weak demand and a potential rejection, putting the $80K support level at risk in the coming days.</li><li>On the daily chart, BTC experienced a minor rejection after briefly surpassing the 200-day moving average at $85K, suggesting a potential false breakout and a bull trap.</li><li>The 4-hour chart shows Bitcoin's downtrend within a descending price channel, with resistance at the upper boundary of the channel at $88K, increasing the likelihood of continued consolidation within the channel.</li><li>On-chain analysis indicates a decline in funding rates, nearing zero, signaling a shift toward seller dominance and a potential deep consolidation phase for Bitcoin before resuming its upward trajectory.</li></ul>

Bitcoin Price Analysis: Is $80K Next for BTC After Losing $85K Support?

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