Bitcoin Weakens at $76,000 Support: Risk of Drop Toward $70,000 Increases
— CryptoSlate
Bitcoin faces risk of deeper pullback if it fails to hold the $76,000 support level.
Bitcoin price fell below $78,000, putting the $76,000 support at risk and raising the chance of a pullback toward $70,000.
- Bitcoin struggles to reclaim its 200-day moving average near $82,000.
- Wintermute links decline to macroeconomic pressures and reduced institutional demand.
- Rising US inflation and bond yields diminish appeal of risk assets like Bitcoin.
Losing the $76,000 support amid macroeconomic headwinds and ETF outflows increases the likelihood of a deeper Bitcoin price correction.