Bitcoin Price Outlook: Traders Monitor $85K Resistance and $70K Support

Bitcoin traded near $78,800 on August 30 following a failed attempt to sustain levels above $80,000. The broader cryptocurrency market cap increased by 1.33% to $2.65 trillion, while the Fear and Greed Index climbed to 72. Market sentiment remains positive, supported by strong weekly performance and consistent institutional demand, fueling speculation on whether the price will test the $85,000 mark or retreat toward $70,000.