Bitcoin: Drops Below $77,000 First Time Since May
Bitcoin falls below $77,000 for the first time since May 1, erasing $33.18B in market cap as $551.68M in longs liquidate amid bearish 4h signals.
SourceAnalysis
Bitcoin has dropped below $77,000 for the first time since May 1, shedding $1,600 in four hours and erasing $33.18 billion from its market cap while $551.68 million in long positions faced liquidation.
Price sits at $76,942 on the 4h chart inside the Bollinger Bands with the lower support at $76,439 and upper resistance at $81,250. The bearish trend structure holds as price trades beneath both the EMA50 at $79,396 and EMA200 at $77,383, while the MACD death cross at -707 confirms momentum loss and RSI at 30.7 leaves room for further selling before any bounce to the 50-EMA zone.
Bull Theory
@BullTheoryioResearch, Trades, onchain plays and all other crypto stuff simplified.Publishes institutional-grade cryptocurrency research and blockchain market intelligence. Delivers in-depth analysis of on-chain metrics, tokenomics, and decentralized finance (DeFi) ecosystems. Features proprietary data models, investment thesis breakdowns, and macro-level crypto trend forecasts. Provides strategic insights for sophisticated investors navigating digital asset markets. Maintains rigorous methodology in fundamental and technical analysis across crypto assets.
Premium Sponsors
.jpg)