Bitcoin price risks slide toward $70,000 as $76,000 support weakens
CryptoSlate
Bitcoin faces downward pressure as it struggles to hold key support levels amid macroeconomic uncertainty and weakening institutional demand.Summary
Bitcoin is testing critical support at $76,000 after failing to break past its 200-day moving average near $82,000. This downturn is driven by deteriorating macroeconomic conditions, including persistent inflation and rising Treasury yields, which have dampened appetite for risk assets. Furthermore, institutional interest through spot Bitcoin ETFs has cooled, and leveraged positions are being liquidated. While long-term holders continue to accumulate, short-term selling pressure remains high; a failure to hold the $76,000 level could lead to a deeper decline toward $70,000.
(Source：CryptoSlate)