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>>Bitcoin's potential retest of $74K is hampered by weak demand, keeping bullish sentiment for BTC under pressure.

Bitcoin's potential retest of $74K is hampered by weak demand, keeping bullish sentiment for BTC under pressure.

crypthub

7 days ago

Market Overview

Bitcoin has steadied above the $75,377 support level after a recent sell‑off, yet it remains underperforming. The price sits near $76,786, consolidating below $77,000, reflecting limited trader conviction. Momentum indicators show sellers still in control, hinting at potential near‑term declines.

Demand and Flow

Both retail and institutional interest stay weak, with US spot Bitcoin ETFs losing $648 million on Monday after a $1 billion weekly outflow. Michael Saylor’s Strategy added roughly 24,869 BTC for about $2 billion, raising its holdings to 843,738 BTC (~$65.3 billion). Futures open interest fell to $56.9 billion, signaling reduced retail exposure.

Technical Outlook

The 4‑hour chart remains bearish; RSI at 37 stays in oversold territory while MACD stays negative. A break below $75,377 could push Bitcoin to the $74,864 swing low, inviting buyers. Conversely, a rebound above $77,874 may open a path toward $78,560 and eventually the $82,111 swing high.