Crypto Market Update: Bitcoin Price Tumbles Below $75,000 Amid Fears of Deeper BTC Correction

Bitcoin price entered the murky waters beyond the $75,000 mark for the first time since November as the crypto market continues to demonstrate high volatility. This sharp correction by BTC, driven by macroeconomic factors and resistance from technical barriers, is leaving investors wondering about further downside risks. Analysts mentioned the battle of Bitcoin to reclaim some of the critical support levels with the flagship crypto trading below its Bull Market Support Band and being pushed back from facing key resistance levels. 

Bitcoin Price Plummets in Crypto Market Turmoil

Bitcoin is facing considerable turbulence due to increased volatility and some bearish sentiment on the market, having dropped below $75,000 for the first time since November. The further downside correction of BTC has been a battle for Bitcoin, trying to reclaim the all-important support levels, with serious warnings being sounded by analysts regarding the $78,500 zone if a short-term recovery is to be attained. Market strategists predict that Bitcoin may decline further, dropping to the $69,000-$70,000 region before establishing a bottom. 

On the technical front, Bitcoin currently remains under pressure, evidenced by the position of Bitcoin beneath the Bull Market Support Band and the RSI is almost reaching oversold levels. Concerns about further downside risks have persisted due to Bitcoin’s failure to remain above critical resistance levels. Analysts emphasize that regaining $78,500 is critical to avoiding deeper corrections and stabilizing market sentiment.

On the other hand, the larger crypto market has exhibited strong reactions and traders and investors have been keenly observing Bitcoin’s price movements, all in view of fears of further volatility. With Bitcoin’s path towards uncertain global macroeconomic situations and trends toward institutional adoption lying under a lot of certainty, it still remains highly significant for the entire crypto ecosystem.

Bitcoin Price Analysis: Can Technical Indicators Guide Future Movements?

The forecast from Bitcoin indicates a possibility of movement on both the upward and downward fronts over the next few hours. As analyzed, Bitcoin was setting itself up for bullish moves. Nevertheless, the resistance baked in at around $81,180 denied Bitcoin the required momentum to move further, hence, making it peak past $81,000. Moreover, there was a floor-like background of buying interest attributed to the area holding the $74,500 support. However, Bitcoin’s continuous ascendancy seems cautious over the $81,000 region, wherein it has to form a breach as well.

Chart 1, analysed by Anushri Varshney, published on TradingView, April 8, 2025

Multiple MACD death crosses indicate market fatigue and target BTC downside potentials, while the golden crosses hint at short-lived upward price movements. The RSI remains mainly neutral at near-oversold levels, indicating that neither overbought nor oversold markets could truly direct Bitcoin price movements. Bitcoin, and the market in general, are somewhat poised for a beneficial price run. To do that, however, the price needs to reclaim the $81,000 resistance in the face of massive selling pressure; a failure to hold the resistance price could potentially begin a retreat toward $74,000 in the context of wider crypto market uncertainty.

What’s Coming Next For Bitcoin?

The price action in the crypto market, especially when scalping prospects. BTC correction was concerning, yes, but it provides opportunities for strategic entries and portfolio rebalancing. Now that bitcoin is testing support near $74,000 and resistance around $81,000, traders should pay close attention to the technical indicators. The intertwining of the MACD death crosses and the probable golden crosses, together with the RSI levels floating right in the neutral territory, indicates that some time will be spent in consolidation before a big move takes place. Most likely, prudent risk management and keeping tabs on the greater trend in the market are of utmost relevance in navigating the ongoing changes in the Bitcoin landscape.