Bitcoin is trading near $76,000, and market warnings suggest that if it loses key support, the price could fall another 10%–11%, nearing its summer lows. Analyst Benjamin Cowen sees $74,900 as a key support level and warns that a sustained break below it could lead to further declines. Cowen said Friday that Bitcoin’s recent rise above $80,000 may have been another bull trap. However, he believes Bitcoin could approach a major cyclical low in the fourth quarter or early January.