Bitcoin Falls Below $77,000 as Bulls Seek to Reclaim Support

Bitcoin fell below $77,000 on Monday, trading near $76,567 on Bitstamp during U.S. market hours as traders attempted to push prices back into the bull-market support band. U.S. equities weakened at the Wall Street open and U.S. WTI crude rose toward $97.50 a barrel.

Trading records show bitcoin had closed a weekly candle above the 21-week exponential moving average last week. Market participants are monitoring the 21-week EMA and the 200-day moving average, which together are referred to as the bull-market support band.

On X, trader Ryan Hogue wrote that bitcoin had ‘just reclaimed the 21W EMA for the first time since Oct 2025’ and pointed to $84,500, the 200-day moving average, as a possible next level. Nic Puckrin, CEO and cofounder of Coin Bureau, wrote on X that bitcoin was ‘right in the middle of the Bull Market Support Band’ and noted that $80,000 was acting as resistance.

QCP Capital flagged that Iran’s foreign minister flying to Russia for talks with President Vladimir Putin revived concerns about broader geopolitical alignment and potential escalation, which added to market uncertainty. In a Market Color note, QCP wrote that whether a further rally becomes durable or turns into a ‘classic bull trap’ will hinge on bitcoin’s ability to close above the low-$80,000 area and identified a close above $82,000 as a key threshold. QCP also highlighted corporate earnings this week as another potential source of volatility for risk assets.

Trader Michaël van de Poppe wrote on X that markets were ‘still shaping up for more upside’ and projected a run to $85,000–$88,000 in May followed by a period of correction or consolidation. Other traders warned that failing to establish support at the moving averages could lead to deeper retracement.

Bitcoin has traded within a multimonth range. Market participants are watching whether recent gains hold as geopolitical headlines and earnings-season news influence volatility.