Bitcoin slipped to around $75,000 as traders reduced risk, with broader sentiment shifting from neutral to fear.

Notable Statistics:

• Coinglass data shows 179,931 traders were liquidated in the past 24 hours for $674.74 million.       
• SoSoValue data shows net inflows of $440.7 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ET’Fs saw net inflows of $69.05 million.

Notable Developments:

Trader Notes:

Analyst Titan of Crypto said Bitcoin is currently holding a critical short-term support zone near $75,900. He noted that maintaining this level would help preserve the current market structure, while a breakdown could trigger a retest of the lower boundary of the ascending channel.

Castillo Trading observed that Bitcoin has lost momentum after its move toward $79,000, with selling pressure emerging on rallies and price action turning increasingly sideways.

He identified roughly $74,500 as a key bullish threshold. Holding above it would keep the broader structure intact, while a break below would weaken the current setup.

Rekt Capital said Bitcoin is showing weakness following rejection from the 21-week exponential moving average (EMA), a level often watched in longer-term trend analysis.

He noted that continued downside pressure could lead to a retest of the upper boundary of a prior double-bottom formation, a zone that may play a decisive role in determining the next major market direction.

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