Bitcoin Breaks Key Two-Month Support, Eyes Turn to $75,000
Bitcoin has fallen through a price floor it had been defending for two months, raising concerns among traders as charts now point to $75,000 as the next potential support.
The critical level? Bitcoin’s 100-week simple moving average. Since November, this long-term average acted as a reliable safety net, with buyers consistently stepping in on every dip for nine straight weeks.
On Thursday, BTC slipped below $85,000, decisively breaking the 100-week average and signaling that sellers are now in control. The breakdown opens the door for further downside, with $75,000—a level that previously halted selling in April last year—emerging as a key level to watch.
If $75,000 fails, the next support sits at the 200-week moving average, around $58,000.
While charts provide guidance, they don’t guarantee outcomes. Traders note that reclaiming $95,000—a level where buyers were repeatedly outbid in December and early January—would flip sentiment back toward bullish territory.
