Bitcoin bear market may end if bulls reclaim $74.5K: Here’s why

💡 DMK Insight

Bitcoin’s current trading below the cost basis for most holders is a critical moment for traders. If bulls can push above $74,500, it could signal a shift in sentiment and potentially trigger a wave of buying, as many investors would see it as a chance to recoup losses. This level acts as a psychological barrier, and breaking it could lead to a short squeeze, especially if leveraged positions are forced to cover. Keep an eye on volume; a surge here would indicate strong buying interest. On the flip side, if Bitcoin fails to break this level, we might see further downside pressure, potentially dragging it toward lower support levels. Traders should monitor the RSI and MACD indicators for signs of bullish momentum or bearish divergence as we approach this critical price point. The next few sessions will be telling, so stay alert for any shifts in market dynamics.