Bitcoin fell below its 50-day moving average for the first time in 66 days. It traded around $80,500 on Saturday morning. The cryptocurrency is testing $80,000 support, with shorter-term technical indicators flashing bearish warnings. In the preceding 24 hours, its price ranged from $80,409 to $81,939.
Technology investor Chamath Palihapitiya, once a bitcoin bull, has reversed his stance. He warned that Bitcoin could be “hacked and going to zero,” citing concerns that AI could be used to execute cryptographic hacks. Analysts are watching whether Bitcoin can reclaim $83,000. A weekly close below that level could reinforce a bearish outlook for the remainder of 2026.