Bitcoin was falling early Monday after testing the $80,000 level — and falling short.

The world's largest cryptocurrency climbed as high as $79,475 late Sunday, before sliding to $77,700 in early morning trading, down 0.5% over the past 24 hours. Cryptos have recovered in recent months following a sharp selloff at the start of the year — Bitcoin is up 29% from its Feb. 6 low. Ethereum and XRP also edged lower.

It's not the Bitcoin's first failed attempt at the milestone — the digital asset also got up to $79,493 on Wednesday.

"It has come a long way in a relatively short period of time, as it's up around 30% since early February," Trade Nation analyst David Morrison said in a note Friday. "It could be that some profit-taking begins to creep in," he added, particularly as Bitcoin has yet to break the 80,000 mark.

Maybe he was right. Bitcoin's ascent appeared to hit a wall close to $80,000, though falling stock futures early Monday are also likely to be behind some of the weakness.

Futures on the tech-heavy Nasdaq 100 — home to the risk assets most likely to move in tandem with cryptocurrencies — pointed 0.1% lower after the Nasdaq Composite hit a record high Friday.

But if Bitcoin is indeed following tech then this week could be the week it clears $80,000 and beyond. A flurry of tech earnings, including from Alphabet, Amazon, Apple, Meta and Microsoft could ultimately decide the path ahead.

Write to Callum Keown at callum.keown@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

source: https://www.tradingview.com/news/DJN_DN20260427001824:0/