The past month or so was utterly dismal for the king of crypto assets. Prices have literally crashed through one support after another.
At $83K, there is a big floor on the chart still to be tested. That’s the April low of $74.5.
Why is this level important? Because that’s the previous peak of the 2023-24 bull run. This high converted into major support a year later. In 2025, Bitcoin launched into $126K from this area.
As the bears now firmly controlling Bitcoin’s price trend, they will be eyeing to probe that April lows. But will they succeed?
Hard to say. Maybe not in the first attempt.
According to some measures, sentiment now in Bitcoin is at “extreme fear”. This means that prices may rebound as soon as the AI rout stabilises.
