Analysts flag $74,000-$75,000 as a key pivot zone after BTC’s 5.78% weekly decline and bearish index shift.
Bitcoin fell to $77,900 this week, nearing the $74,000 support level that analysts say could determine its next trend. The $74,000-$75,000 range has acted as a major pivot across multiple time frames, adding significance to the current test.
Earlier this month, Bitcoin briefly climbed near $82,000 before its bull-bear structure index turned negative again. The index, tracking ETF demand, trader activity, and exchange flows, dropped to -23.49 by May 17, signaling renewed seller pressure. Meanwhile, data showed long-term holders moving coins to exchanges at an average cost of $110,851, indicating large unrealized losses.
Traders warn a break below $70,000 could trigger a deeper decline toward $50,000-$60,000, while holding that level may support a rebound to $85,000-$90,000.