Analysis: Bitcoin Approaches Key $75,000 Level, New Uptrend May Begin
Odaily Bitcoin is approaching the key resistance level of $75,000. Multiple analysts suggest that this level could become the watershed moment for the market transitioning from consolidation to a new upward trend.
Mati Greenspan, founder of Quantum Economics, pointed out that if BTC can effectively consolidate above $75,000, it would signify a structural breakthrough and could attract new capital inflows. However, if it fails to hold this level, it might form a "bull trap," although there is still strong support around $65,000 below.
Kevin Murcko, CEO of Coinmetro, stated that round-number levels like $75,000 are typically areas where traders concentrate their activity, often triggering profit-taking and creating divergence between buyers and sellers.
Analysts further noted that if a breakout is confirmed, BTC could potentially test the $85,000 range. However, the upside potential still depends on factors such as the macro environment, ETF fund inflows, and market liquidity. Meanwhile, some views suggest that $75,000 is more of a psychological barrier, and true structural confirmation might require consolidation at even higher levels. (CoinDesk)
