🔴 Bitcoin loses ground as selling pressure builds.
BTC/USDT closed the latest daily candle at 76,088.01 USDT, down 5.49%.
The price is now below both the 20-day EMA (79,575) and 50-day EMA (79,781), with the shorter average slightly below the longer one. That's a weak technical picture.
The decline also coincided with a sharp selloff in U.S. stocks, particularly technology shares. But there's no confirmed direct catalyst linking the two moves.
Bitcoin's estimated 7-day mean hashrate was about 1,036.5 EH/s versus 967.6 EH/s over 90 days, a network activity measure rather than a price signal.
📉 What matters next?
A recovery above both EMAs would be an early sign of improving momentum. Beyond that, the 81,479–82,300 USDT zone has repeatedly stopped upward moves. A higher resistance zone at 84,352–84,898 USDT is also marked by two pivot reactions.
If BTC remains below the averages, the bearish structure stays intact. The chart doesn't establish a reliable repeated support zone below the current price, so calling a bottom here would be premature.
For now, sellers have the upper hand.
BTC/USDT closed the latest daily candle at 76,088.01 USDT, down 5.49%.
The price is now below both the 20-day EMA (79,575) and 50-day EMA (79,781), with the shorter average slightly below the longer one. That's a weak technical picture.
The decline also coincided with a sharp selloff in U.S. stocks, particularly technology shares. But there's no confirmed direct catalyst linking the two moves.
Bitcoin's estimated 7-day mean hashrate was about 1,036.5 EH/s versus 967.6 EH/s over 90 days, a network activity measure rather than a price signal.
📉 What matters next?
A recovery above both EMAs would be an early sign of improving momentum. Beyond that, the 81,479–82,300 USDT zone has repeatedly stopped upward moves. A higher resistance zone at 84,352–84,898 USDT is also marked by two pivot reactions.
If BTC remains below the averages, the bearish structure stays intact. The chart doesn't establish a reliable repeated support zone below the current price, so calling a bottom here would be premature.
For now, sellers have the upper hand.
