Bitcoin Tests $75,000 Support Amid 30% Decline From All-Time High

Bitcoin's price has been on a downward trajectory, with key support levels being tested near $75,000. The market is currently lacking the necessary panic selling to initiate a thorough correction following a prolonged expansion phase. Analysts have noted that Bitcoin is testing the crucial holding cost price of $66,000, with a breach of this psychological barrier appearing imminent. The breakdown of the uptrend across all timeframes positions $75,000 as a critical support level. The interconnectedness of the crypto and stock markets suggests that figures are unlikely to catalyze a market turnaround in the short term. Should tonight’s PPI data yield favorable results, traders may contemplate shorting in the $80,000 range.

The market structure reveals that Bitcoin is currently testing the crucial holding cost price of $66,000, with a breach of this psychological barrier appearing imminent. The breakdown of the uptrend across all timeframes positions $75,000 as a critical support level. The interconnectedness of the crypto and stock markets suggests that figures are unlikely to catalyze a market turnaround in the short term. Should tonight’s PPI data yield favorable results, traders may contemplate shorting in the $80,000 range.

Bitcoin has seen sharp declines from its all-time high of $109,225 in January 2025 to recent lows near $76,700 in March 2025. If Bitcoin cannot maintain the $80,000 support level, it might test $75,000 or even $70,000 in the upcoming weeks. Key onchain metrics reveal that Bitcoin's downtrend may continue with a classic bearish continuation pattern suggesting BTC price could go as low as $63,000. Bitcoin is currently trading around $81,632 and is approaching a key support level at $78,000. Investors are on edge as Bitcoin has declined 30% from its all-time high of $109,114 on 20 January 2025, falling to $76,624 today. The firm emphasized bitcoin's $75,000 support level seen pre-election. However, a decisive break of the $75,000 - $73,000 support zone would signal that Bitcoin has entered a medium-term downtrend, potentially a correction.