Bitcoin (BTC) has dipped below the critical $75,000 threshold as market participants exercise extreme caution ahead of the upcoming US Consumer Price Index (CPI) report. The leading cryptocurrency hit its lowest weekly close since August, driven by persistent ETF outflows and weak spot market buying demand. Investors are closely monitoring the inflation metrics to gauge the Federal Reserve's future interest rate decision, which continues to influence high-risk asset valuations across macro markets.
Technical Breakdown & Key Levels:
Support Levels: Immediate downside support is situated at $74,000, followed by a key pivot zone at $73,000. A breakdown below this level could trigger further liquidations toward the $70,000 to $65,000 range.
Resistance Levels: To invalidate the current bearish sentiment, buyers must push BTC back above the $75,500â$76,000 resistance zone. Reclaiming this zone could open targets toward $77,500 and $80,000.
Momentum Indicators: Technical oscillators indicate weak momentum, with the daily Relative Strength Index (RSI) sitting in lower territory and the MACD maintaining a negative histogram.