Bitcoin faces the risk of another downward wave amid rising selling pressure and weak institutional demand
Bitcoin is facing increasing downward pressure as it approaches a key support level at $75,500. A break below this level and a daily close beneath it could pave the way for a decline toward $72,000 and then $67,000. Conversely, the price could see a temporary rebound toward $76,500, but reclaiming the $81,000 level remains essential to strengthening the prospects for a recovery.
Concerns are mounting due to declining institutional demand for Bitcoin exchange-traded funds (ETFs), along with weak investor sentiment and the emergence of negative technical indicators.
The $75,500 level remains pivotal in determining the next direction. Holding above it could help support a recovery, while a break below it could expose Bitcoin to another downward wave toward $67,000
Bitcoin is facing increasing downward pressure as it approaches a key support level at $75,500. A break below this level and a daily close beneath it could pave the way for a decline toward $72,000 and then $67,000. Conversely, the price could see a temporary rebound toward $76,500, but reclaiming the $81,000 level remains essential to strengthening the prospects for a recovery.
Concerns are mounting due to declining institutional demand for Bitcoin exchange-traded funds (ETFs), along with weak investor sentiment and the emergence of negative technical indicators.
The $75,500 level remains pivotal in determining the next direction. Holding above it could help support a recovery, while a break below it could expose Bitcoin to another downward wave toward $67,000
