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Bitcoin at Crossroads: Will $75K Support Hold or Break Toward $60K?

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TLDR:

  • Bitcoin holds above $75,000 weekly support but trades below 20-week and 50-week moving averages for first time. 
  • Bullish scenario requires holding April 2025 lows and reclaiming $100,400 resistance to confirm cycle continuation. 
  • Breaking April 2025 low would invalidate higher-low structure and open path toward $50,000-$60,000 correction zone. 
  • Weekly closes above $75,000 and April lows will determine if current decline is pullback or trend reversal.

 

Bitcoin stands at a critical juncture above $75,000, a key weekly support level that could determine whether the cryptocurrency climbs toward $100,000 or descends to $60,000.

The digital asset recently retested this zone after falling below both the 20-week and 50-week moving averages. Market participants now watch closely as price action at this level will shape the next major directional move for the leading cryptocurrency.

Two Distinct Paths Emerge at $75,000 Support

The current technical setup presents two contrasting scenarios for Bitcoin’s trajectory. The first scenario requires Bitcoin to hold the April 2025 low and establish $75,000 as the cycle bottom.

This outcome would preserve the long-term trend of higher highs and higher lows that has characterized the bull market.

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For this bullish scenario to materialize, Bitcoin must stop making lower lows around the $75,000 area. The recent decline would then be classified as a pullback rather than a trend break.

Bull Theory noted on X that Bitcoin is “trading above the $75,000 level, which is a key weekly support level on the chart.”

The 20-week moving average pressing below the 50-week moving average typically signals bearish momentum. However, this indicator can also represent a delayed signal following a sharp correction.

The crucial test comes if Bitcoin attempts to reclaim the 50-week moving average, currently positioned at $100,400.

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A clean weekly close above $100,400 would confirm that momentum has shifted back to buyers. Market structure would then favor continuation of the four-year cycle pattern. Weekly closes showing renewed buying interest above the April 2025 low would strengthen this interpretation.

Breakdown Below Key Support Opens Downside Targets

The alternative scenario involves Bitcoin breaking below the April 2025 low, which would fundamentally alter the market structure.

Such a move would invalidate the higher low pattern and negate the $75,000 support zone. The breakdown would shift probabilities toward a deeper correction phase.

Should this bearish scenario unfold, the $50,000 to $60,000 range becomes the primary downside target. This zone represents a major psychological level and historically serves as a reset area after significant corrections. The distance from current levels to this range reflects the severity of a potential structure break.

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Two critical questions will determine which scenario prevails in the coming weeks. First, can Bitcoin maintain weekly closes above $75,000? Second, will the April 2025 low hold as support or give way to selling pressure?

If both the $75,000 level and April 2025 low remain intact, the bullish scenario stays viable. Conversely, breaks below both levels would make the bearish path more probable.

The weekly timeframe chart will provide the clearest signals as these support levels face continued testing.

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Crypto World

XRP Crypto Falls to $1.31 After Failed Breakout as Liquidity Dries Up

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XRP Crypto slipped to $1.31 after a hard rejection at $1.35 left traders with little to show from a breakout attempt that briefly looked credible.

The 2% drop is secondary – what matters is the combination of that ceiling rejection and visibly thinning order book depth, a setup that historically precedes sharper directional moves.

The failed push came off a March 31 high of $1.37, with XRP unable to clear $1.40 resistance and grinding lower through a $1.28–$1.33 range ever since.

That recent run toward $1.35 now looks like a distribution zone rather than a launchpad, and the market cap sits at $80.6 billion with 24-hour volume at just $2.01 billion – reduced participation that confirms the liquidity problem is real. The chart now forces a binary question: does $1.28 hold, or does the next support at $1.15 come into play faster than bulls expect?

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XRP Crypto, Reclaim $1.35 or Retreat to $1.15?

XRP Crypto is trading below both its 50-day EMA ($1.38) and 200-day EMA ($1.88), with price pinned inside a descending channel on the 4-hour chart where both the 50-SMA and 200-SMA act as overhead ceiling.

Daily RSI reads 38 – weak momentum, but not yet in oversold territory, which means there’s no technical floor from that indicator alone. MACD is negative and expanding downward, removing any near-term momentum argument.

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Key resistances sit at $1.3500; load-bearing supports are $1.3000 and $1.2698. The $1.28 level has held since February, aligning with the 23.6% Fibonacci retracement – below it, holder support thins materially until $1.15.

Source: TradingView

The bull case requires a clean reclaim of $1.35 on volume – not a wick, a close – followed by a hold above the 50-day EMA at $1.38.

That sequence opens $1.45 and, with a catalyst, $1.60 tied to regulatory progress on the CLARITY Act, which carries a 63% probability of passing in 2026 per current prediction markets. Long-term analysts maintain structurally bullish frameworks, but those scenarios require macro conditions – FOMC dovishness, easing geopolitical tensions – that aren’t present right now.

The bear case activates on a confirmed daily close below $1.28. Analysts are flagging $1.15 as the next meaningful support, with more aggressive targets at $0.80 contingent on oil above $100 and Fed rate holds through Q2.

The uncomfortable reality is that XRP is down nearly 30% year-to-date and 64% from its $3.65 all-time high, and every bounce has been sold. The single most important level: $1.28. Hold it and the range stays intact; lose it and $1.15 becomes the next anchor.

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The post XRP Crypto Falls to $1.31 After Failed Breakout as Liquidity Dries Up appeared first on Cryptonews.

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South Korea Tightens Crypto Rules with 5-minute Asset Verification Mandate

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South Korea Tightens Crypto Rules with 5-minute Asset Verification Mandate

South Korea has ordered all crypto exchanges to reconcile their internal ledgers with actual asset holdings every five minutes after an inspection uncovered weaknesses in internal controls.

The directive was announced on Monday by the Financial Services Commission (FSC) after a meeting with top crypto exchanges and the Digital Asset Exchange Alliance (DAXA), during which they discussed the findings of an emergency inspection triggered by the Bithumb payout incident.

The inspection found that three of the country’s five major exchanges were reconciling balances only once every 24 hours, limiting their ability to respond quickly to discrepancies. Systems designed to halt trading during major mismatches were also found to be insufficient, raising concerns about how exchanges would handle large-scale errors.

In February, Bithumb mistakenly distributed 620,000 Bitcoin (BTC) to 249 users during a promotional event. The exchange later announced that it recovered 99.7% of the funds the same day. The remaining 0.3%, 1,788 BTC that had already been sold, was covered using company reserves.

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Related: Bithumb seeks to reappoint CEO despite recent controversies: Report

South Korea mandates five-minute asset checks

Under the new measures, exchanges must implement automated ledger-to-wallet reconciliation systems operating on a five-minute cycle. They will also be required to introduce defined criteria for triggering automatic transaction halts in the event of significant discrepancies.

Beyond reconciliation, regulators are pushing for sweeping changes to internal operations. High-risk processes like promotional payouts will require stronger oversight, including third-party cross-checks and multi-level approval systems. Exchanges will also need to separate high-risk accounts and implement automated verification tools for payments.

Top Korean crypto exchanges. Source: CoinGecko

Furthermore, external audits will shift from quarterly to monthly, while disclosures will expand to include detailed asset balances by wallet and ledger.

“The financial authorities and the DAXA plan to complete the rule changes needed to implement the improvement measures within April this year,” the FSC wrote.

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Related: South Korean brokerage Korea Investment & Securities eyes Coinone stake: Report

Bithumb delays IPO to post-2028

Last week, Bithumb announced it is now targeting an IPO after 2028, marking another delay from its earlier 2025 plans as it works through restructuring and regulatory pressure. The exchange said it will focus on strengthening accounting policies and internal controls through 2027, following an advisory agreement with Samjong KPMG.

Meanwhile, Naver Financial has also delayed its planned share swap with Dunamu by about three months, now targeting a shareholder vote on Aug. 18 and completion by Sept. 30.

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