Bitcoin needs ‘key’ $75k support to avoid price drop amid macro concerns

Bitcoin is more vulnerable to a loss if the price falls. “key” $75,000. Support amid increasing concerns of a potential US-China trade war.

Bitcoin’s (BTCCointelegraph Markets Pro Data shows

Analysts attribute this current drop to concerns about macroeconomic concerns relating to a possible trade war between China and the US caused by US President Donald TrumpThe decision of the to introduce import tariffs.

Ryan Lee, Chief analyst at Bitget Research and a leading macroeconomic expert, said that these concerns were the major reasons why Bitcoin’s support of $80,000 was lost.

Cointelegraph quoted the analyst:

“Bitcoin’s drop below $80,000 amid investor fear from Trump’s tariffs and market unrest, points to a correction likely hitting $76,000-$78,000 this week, nearing $75,000 as a key support level based on historical patterns and trader sentiment.”

But some analysts still worry about Bitcoin’s possible correction, which could see it return to its $70,000 price.

The correlation between the index and global liquidity is shown below. Bitcoin’s right-hand side The (RHS), the price that someone would be willing to pay for the currency, is likely to fall below $70,000 by the end of the month after reaching its peak near $110,000 at the start.

Raoul Pal, CEO and founder of Global Macro Investor in November’s X, predicted that Bitcoin could reach $70.000. “local top” above $110,000 In January, you should have a look at the market before going into this current correction.

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Bitcoin can it hold up to $75k and avoid the plunge down to $70k?

Bitcoin’s price is not likely to reach $70,000 this week despite the lackluster investor sentiment.

Continued dip-buying from large institutions as Michael Saylor’s StrategyThe plunge from $70,000 to just under $50,000 seems shocking. “less probable” Lee added that there are no significant downside catalysts.

“A further plunge to $70,000 is possible but less probable by March 2 without a significant new shock. The $75,000 level aligns with technical support and stablecoin buffers, while $70,000 would need sustained panic or macro deterioration beyond current pressures.”

CoinGlass data show that even a fall below $75,000 will add substantial downside volatility as it triggers nearly $900,000,000 worth of leveraged liquidations on all exchanges.

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Rekt Capital’s analysis of historical chart patterns suggests that Bitcoin’s correction might last for another two weeks.

“Bitcoin is in its first price discovery correction,” In a X post, adding:

“Depth-wise, this current -25% Price Discovery Correction has been shallower by standards of history though still quite close to the -30% mark. Duration-wise however, this 11 week pullback has been more in line with 2013 duration.”

Bitcoin is likely to face more downside pressure in the next two weeks, assuming that this current downward trend will be similar to 2013’s correction.

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