Crypto at a Crossroads: Bitcoin Drops Below $80K Amid Market Fear – Key Events to Watch This Week

Bitcoin dropped below $80K last week, pushing the fear and greed index into extreme fear. Traders are watching the upcoming White House crypto summit, where a Strategic Bitcoin Reserve (SBR) announcement could be a major catalyst. Pi Network’s price remains volatile amid speculation of a Binance listing and KYC delays. Hedera Hashgraph surged following its partnership with Swift, signaling potential further gains.

The Federal Reserve’s PCE inflation report could impact crypto prices this week. Dogecoin approaches key Fibonacci support, with the SEC confirming memecoins are not securities. Sui tests a major breakout level, awaiting market reaction. Global trade tensions escalate as Trump threatens EU tariffs. Crypto markets face a critical week shaped by economic data and policy shifts.

Crypto at a Crossroads: Bitcoin Drops Below $80K Amid Market Fear – Key Events to Watch This Week

The cryptocurrency market has experienced heightened volatility, with Bitcoin plunging below $80,000 and the fear and greed index shifting into extreme fear. Since early February, Bitcoin has declined 21%, reflecting a significant downturn in sentiment. Adding to market uncertainty, global trade tensions have resurfaced, with the U.S. threatening 25% tariffs on European imports, a move that former President Donald Trump is expected to formally announce soon.

Meanwhile, traders are closely monitoring key events, including a crypto summit at the White House and the release of the U.S. Personal Consumption Expenditures (PCE) report on Friday at 11:30 PM AEST, a crucial inflation indicator for the Federal Reserve. A lower-than-expected inflation reading could pave the way for more favorable economic conditions, potentially boosting crypto prices. This could lead to increased investor confidence, renewed buying momentum, and a shift in market sentiment. If inflation cools, the Federal Reserve may ease monetary policy, reducing interest rate concerns and encouraging risk-on assets like Bitcoin and altcoins to rally.

Bitcoin is facing heavy selling pressure, with its market structure signaling further downside. Key Fibonacci support levels to watch include $79,437, $72,247, and $62,012, while the 200-period EMA/SMA ribbon sits between $72K and $79K, making it a critical range for potential buying interest. Technical concerns remain, with the 50-day and 200-day Weighted Moving Averages narrowing, raising the risk of a death cross, while indicators like the Awesome Oscillator and RSI suggest continued caution.

Meanwhile, Dogecoin (DOGE) is nearing a major Fibonacci support level at $0.16692, but a rebound is uncertain until higher highs and accumulation emerge. A regulatory boost from the SEC, ruling memecoins as non-securities, could support DOGE’s outlook, alongside its inclusion in U.S. altcoin ETFs.

Pi Network (PI) has seen high volatility since launching its mainnet in February, initially dropping from $2 to $0.59 before surging to $3 on Binance listing speculation. However, a recent 42% drop to $1.6 followed another delay in its KYC grace period, now extended to March 14. If Binance officially lists PI, market sentiment could shift bullish, with a falling wedge pattern suggesting a potential breakout. Hedera Hashgraph (HBAR) surged last week after announcing a partnership with Swift, the global financial messaging network. HBAR climbed from $0.1816 to $0.2652, breaking key resistance at $0.2308. Technical indicators, including a bullish pennant and falling wedge pattern, signal potential for further upside, with $0.2652 as the next major resistance level.

With Bitcoin testing key support zones, regulatory developments, and major economic data releases ahead, the crypto market remains at a critical turning point. The White House summit, inflation data, and exchange listings could significantly impact market direction, making this a pivotal week for traders. Additionally, Pi Network’s potential Binance listing and Hedera’s partnership with Swift add to the market’s volatility. Meanwhile, Dogecoin and Sui are approaching key technical levels, further influencing investor sentiment. Global trade tensions, particularly Trump’s tariff threats, could also play a role in shaping market trends.