Bitcoin tests $75,000 ‘structural breakout’ level with $85,000 upside in view

Bitcoin is nearing the $75,000 mark, a level that analysts believe could signify a significant structural breakout, potentially initiating a new upward trend. Experts like Mati Greenspan highlight that sustaining prices above $75,000 is crucial, as a failure to do so could result in a bull trap, though strong support is expected around $65,000. Other analysts, such as Han Tan, suggest a decisive break above $75,000 could propel Bitcoin towards the mid-$80,000s, contingent on supportive macroeconomic factors like easing geopolitical tensions and continued ETF inflows. However, some, like Dessislava Ianeva, view $79,000 as a more critical structural pivot, with a sustained move above $74,000 on a daily closing basis serving as an early indicator of a breakout with "structural legs." The current market stability, with muted funding rates and absorbed selling pressure, suggests a reduced likelihood of a sharp reversal, especially with recent ETF inflows counteracting previous outflows. Broader market shifts, including persistent ETF demand and stronger holder cohorts, are also altering Bitcoin's behavior, making it less of a purely retail-driven cycle and more responsive to central bank policy and liquidity conditions.

(Source：CoinDesk)