Bitcoin's price has now declined close to the 200-week exponential moving average (EMA). Looking at previous market cycles, BTC traded below this level during the March 2020 crash, the middle of the 2022 bear market, and again in February 2026. A drop back below $72,000 could signal renewed market weakness and increase the likelihood of a retest of local lows around $60,000.
If Bitcoin fails to regain momentum and rebound toward $80,000 in the near term, a bearish scenario becomes increasingly plausible. Recent on-chain data from CryptoQuant points to a significant decline in whale buying activity, a pattern that also emerged during the cyclical weakness observed in the spring of 2022.
Bulls need to demonstrate strength quickly to relieve the pressure on the "king of cryptocurrencies."
Bitcoin chart (W1 timeframe)
Source: xStation5
Daily Summary: Buyers continue to dominate the markets despite geopolitical turmoil⏰
📆Three markets to watch next week (29.05.2026)
Hungary Unlocks EU Funds; EUR/HUF Drops 0.5%
🔄 UPDATE: Iran rejects Trump's statement - Oil prices rebound 💥
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
