Bitcoin may bottom at $80K as altcoins show bullish setups

Bitcoin’s (CRYPTO:BTC) price action near $80,000 has drawn attention from analysts, with some predicting a potential reversal that could influence altcoins like Toncoin (CRYPTO:TON), Cronos (CRYPTO:CRO), Mantle (CRYPTO:MNT), and Render (CRYPTO:RNDR).

Veteran trader Peter Brandt warned of a bearish breakdown from a wedge pattern, targeting $65,635, while Stockmoney Lizards suggested Bitcoin’s local bottom might form between $82,000 and $80,000.

Analysts note macroeconomic uncertainty—including a 40% chance of a 2025 recession per Coin Bureau’s Nic Puckrin—could pressure risky assets like crypto.

Bitcoin’s technicals show mixed signals.

The 20-day exponential moving average ($85,253) remains flat, with the relative strength index (RSI) near neutral.

A breakdown below $80,000 could trigger a drop to $76,606, while a rebound might signal a rally toward $95,000 or $100,000.

Toncoin (TON) recently bounced off its 20-day EMA ($3.58), with bulls aiming to push prices above $4.14.

A successful breakout could target $5, while a drop below $3.3 might send TON to $2.81.

Cronos (CRO) broke above its moving averages on March 24, signaling a potential end to its downtrend.

Buyers are defending $0.10 support, with a close above $0.12 needed to rally toward $0.14.

Mantle (MNT) faces resistance at its 50-day SMA ($0.84), but holding above the 20-day EMA ($0.80) suggests bullish momentum.

A rebound from $0.77 could test $0.94, while a breakdown risks a drop to $0.72.

Render (RNDR) recently reclaimed its 50-day SMA ($3.77), with a bounce off the 20-day EMA ($3.57) potentially targeting $5.

Analysts emphasise that Bitcoin’s trajectory will likely dictate altcoin movements.

If BTC stabilises near $80,000, select altcoins could rally, but broader macroeconomic risks and technical resistance levels remain critical factors.

At the time of reporting, the Bitcoin (BTC) price was $82,245.86.