Bitcoin hovers near $77,000 with 'broader downtrend intact'

Bitcoin (BTC-USD) hovered adjacent $76,000 per token connected Sunday with immoderate strategists cautioning that its caller sell-off whitethorn not beryllium implicit arsenic investors look reluctant to bargain the dip.

The world’s largest cryptocurrency dropped sharply implicit the play to scope its lowest level since past April, and notch its 4th consecutive period of losses.

The determination little coincided with President Trump’s announcement connected Friday selecting Kevin Warsh to pb the Federal Reserve erstwhile Jerome Powell’s word ends successful May, a nominee markets presumption arsenic hawkish.

Ether (ETH-USD) and different integer tokens besides slid alongside golden (GC=F), metallic (SI=F) and different metals which crashed connected Friday, with losses extending connected Sunday evening.

With bitcoin present nearing a $73,000 enactment level, “current flows suggest sentiment has shifted meaningfully,” said a 10X Research enactment connected Sunday night.

The firm's strategists pointed to travel and positioning data, which indicates “investors are not yet positioned to bargain the dip."

“While sentiment and method indicators are approaching utmost levels, the broader downtrend remains intact," wrote the researchers. "In the lack of a wide catalyst, determination is small urgency to measurement in."

The steadfast noted traders stay focused connected deleveraging and presumption unwinds alternatively than connected preparing for a emblematic snapback rally.

Pressure connected integer assets reflects broader fragility crossed the crypto market. Aside from a little bounce past month, bitcoin has struggled since October, erstwhile whale selling and forced liquidations swept done the industry.

Bitcoin is down much than 12% twelvemonth to day aft a disappointing 2025, portion ether has besides plunged 23% since the commencement of the year. Altogether, cryptocurrencies person mislaid astir $1.7 trillion successful marketplace value, oregon astir 39% from past year’s peak, according to 10X Research.

Sean Farrell of Fundstrat past Friday said the mid-$70k portion stands retired arsenic a logical enactment zone, fixed that $74K was the intraday debased successful April 2025 during the tariff-driven selloff, portion astir $76K aligns with integer plus treasury elephantine Strategy's (MSTR)’s bitcoin outgo basis.

“While I stay skeptical that the mid-$70k scope represents the definitive debased for the year, investing is simply a crippled of probability and risk-reward," wrote Farrell connected Friday.

"As we look to selectively redeploy capital, this portion is opening to look progressively charismatic connected a comparative basis,” helium added.

Ines Ferre is simply a elder concern newsman for Yahoo Finance. Follow her connected X astatine @ines_ferre.

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