Analysis: Bitcoin Approaches the Key $75,000 Level, Potentially Starting a New Bull Rally

According to Odaily, Bitcoin is approaching the key resistance level of 75,000 US dollars. Several analysts have noted that this level may serve as the dividing line for the market to shift from consolidation to a new upward trend.

Mati Greenspan, founder of Quantum Economics, pointed out that if BTC can effectively remain above 75,000 US dollars, it would signal a structural breakout and could attract new capital to enter; however, if it cannot hold above this level, it may result in a "bull trap." Nevertheless, there is still strong support around 65,000 US dollars below.

Kevin Murcko, CEO of an exchange, stated that integer thresholds such as 75,000 US dollars are usually hotspots for trader competition, making profit-taking and differences in buying and selling more likely.

Analysts further indicated that, if a breakout is confirmed, BTC could reach the 85,000 US dollars range, but the extent of the rise still depends on factors such as the macro environment, ETF capital inflows, and market liquidity. Meanwhile, some opinions suggest that 75,000 US dollars is more of a psychological threshold, and real structural confirmation might require holding above an even higher level. (CoinDesk)