Bitcoin $BTC drops to $73,000—is the final leg down not over yet?
BTC previously rebounded to $81,000, but has now fallen back to around $73,000, a pullback of nearly 10% in a short period.
More notably, U.S. spot Bitcoin ETFs have recently seen continued net outflows, while market buying remains weak.
I previously thought the final leg down might come near $73,500, but the price has now fallen further, suggesting the market has not yet finished forming a bottom.
For now, $73,000 can no longer be treated as reliable support.
If BTC cannot quickly reclaim $75,000, I’ll start watching for a further test of $70,000, or even $68,000.
However, after consecutive declines, the market could also see a sharp rebound at any time.
If BTC can climb back above $76,000, only then will it have a chance to challenge $78,000–$80,000 again in the short term.
BTC previously rebounded to $81,000, but has now fallen back to around $73,000, a pullback of nearly 10% in a short period.
More notably, U.S. spot Bitcoin ETFs have recently seen continued net outflows, while market buying remains weak.
I previously thought the final leg down might come near $73,500, but the price has now fallen further, suggesting the market has not yet finished forming a bottom.
For now, $73,000 can no longer be treated as reliable support.
If BTC cannot quickly reclaim $75,000, I’ll start watching for a further test of $70,000, or even $68,000.
However, after consecutive declines, the market could also see a sharp rebound at any time.
If BTC can climb back above $76,000, only then will it have a chance to challenge $78,000–$80,000 again in the short term.