Analysts: Bitcoin May Drop to $60K After Breaking $75K Support
After dropping below the $75,000–$76,000 band, analysts warn Bitcoin could fall to $60,000, citing CME futures gaps and weakness in key exponential moving averages.
Bitcoin could fall to $60,000 after slipping below the $75,000–$76,000 support band on Friday, analysts warned. Crypto analyst Michaël van de Poppe flagged the breach and noted multiple Chicago Mercantile Exchange Bitcoin futures gaps sit above the spot price, the largest topping $79,000.
Van de Poppe warned, “That said, if Bitcoin doesn’t grind back upwards to $76,600 [or more], then there’s clearly no argument to assume that we are going to get into new highs and just remain within this range.” He added that corrections on Fridays often reverse, but the market needs to retake the $76,600 level to argue for renewed upside.
Market data shows Bitcoin trading below its 365-day and 200-day exponential moving averages and that it closed under the 50-day EMA on Friday. Traders use those moving averages to assess trend direction.
Investors are also watching macroeconomic developments after the appointment of Kevin Warsh as Federal Reserve chair and how his interest-rate stance may affect liquidity and risk appetite for cryptocurrencies.
Prediction markets place the odds of Bitcoin reaching $55,000 in 2026 at about 51% and the chance of a fall to $45,000 at roughly 31%. Onchain metrics indicate about 71% of circulating Bitcoin is held by long-term holders.
Trader Matthew Hyland pointed to the rally since the February low near $60,000 and observed, “There has never been a rally that trended upward for 89 days ever in a bear market in BTC history.” He added that prior breaks of high-time-frame resistance preceded bull-market rallies on three occasions.
Other analysts cautioned that an inability to hold key support levels may lead to extended consolidation as buyers and sellers reassess positions around the broken range and respond to macro signals.
Bitcoin fell to about $60,000 in February before a multi-week rally. Analysts say market participants will watch whether the price can climb back above the $75,000–$76,000 band and the 50-day EMA; failure to reclaim those levels would open the way to tests near $60,000.
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