UBS Hawkish Pivot Puts Pressure on Bitcoin Below $80K

Bitcoin price slipped below $80,000 after UBS reversed its stance to a hawkish one. This change has analysts warning of critical support levels and potential pressure through December.

Cathie Wood pointed out that Bitcoin's correlation with gold is strengthening, which could serve as a catalyst for a breakout.

On-chain metrics showed a record $9.07 billion in profits among whales, establishing a technical floor for the rally.

Corporate accumulation continued, with Boyaa Interactive increasing its Bitcoin holdings by 115 coins to a total of 4,316.