Bitcoin’s bearish momentum hit hardest on the technical charts, with the cryptocurrency breaking below all major exponential moving averages by early Monday.
MACD indicators reinforced the downside pressure, with the line at negative 359, the signal at negative 243, and the histogram at negative 116.
Geopolitical Shock Hits An Already Weakened Market
The post immediately rattled financial markets. Oil prices climbed. The US dollar strengthened. Investors pulled back from riskier assets — and Bitcoin was among the first to feel it.
By early Monday, Bitcoin was trading at roughly $76,780, down about 1.55% over the prior 24 hours, according to Coingecko data.
The day’s range ran from a low near $76,680 to a high of $78,530. Trading volume surpassed $24 billion. The drop erased approximately $33 billion from Bitcoin’s market capitalization in a matter of hours.
ETF Outflows Had Already Set The StageThat figure contributed to a total of $1 billion leaving ETF funds over the course of the week, snapping a six-week inflow streak. Additional redemptions followed in subsequent sessions, pointing to fading institutional appetite after a period of strong buying.
Broader conditions made things worse. Sticky inflation figures — both PPI and CPI — weighed on sentiment. Rising Treasury yields added to the pressure. Thin weekend trading liquidity amplified every move.
Support And Resistance In FocusTraders are now watching two key zones closely. Resistance sits between $79,000 and $82,000. Downside support is clustered around $74,000 to $76,000.
Featured image from Atta Kenare/AFP via Getty Images|Charly Triballeau/AFP via Getty Images, chart from TradingView
