Bitcoin has slipped below the $78,000 threshold in latest trading sessions.
The cryptocurrency's price movement has drawn attention from market analysts who suggest the drop may form a classic bear trap. This pattern often involves a sharp decline that attracts sellers before a potential reversal.
Reported by AI Image generated by AI
Bitcoin price has fallen below $78,000, placing immediate focus on whether buyers can defend the $76,000 support zone or face a deeper decline toward $70,000.
Bitcoin briefly fell below $80,000 on Thursday as analysts noted rising profit taking among traders. The move came despite recent technical signals pointing to potential upward momentum.
Reported by AI
Bitcoin traders are holding out for one more price dip before expecting the uptrend to resume with new highs.
Bitcoin traded near $77,000 on Thursday, signaling a mild bullish trend, while Ethereum hovered around $2,300 with neutral momentum. Crypto markets posted modest gains over the past 24 hours despite mixed weekly performance. Analysts cite resistance at $80,000, ETF outflows, and macroeconomic pressures as key factors tempering short-term sentiment.