Bitcoin plums new six-week lows as analyst eyes BTC price dip 'end' at $72K
Bitcoin fell to about $72,395 at the U.S. market open, extending a six-week decline even as the S&P 500 and Dow hit record highs. Traders said the $72,000–$74,000 zone is critical: holding it could end the correction, while losing it may open another leg down, with $77,000 needed to confirm a rebound. Caution is rising because funding remains heavily positive, open interest is falling, and spot volume is fading, a setup that could trigger a long squeeze. Cross-crypto liquidations topped $200 million. Market watchers also expect extra volatility into the joint daily, weekly, and monthly close, with a liquidation cluster near $76,000 and a possible head-and-shoulders pattern pointing toward $68,000–$69,000. The 100-day moving average sits near $72,972.
