How low is Bitcoin price?

Bitcoin (BTC) fell to its four-month low of $74,500 on April 7th. Data suggests that prices may not have bottomed out yet.

Investors dumped risky assets after US President Donald Trump doubled plans to impose global tariffs over the weekend, causing a $9.5 trillion wipeout on the global stock market.

The growing demand for a recession in the US has shocked risk investors, but has made participants in the Crypto market wonder how low Bitcoin will be in the near future.

Bitcoin’s eyes drop towards the “Average Saylor Entry” level

Bitcoin is currently testing key technology levels: the 50-week index moving average (50-week EMA).

According to market analyst Ted Pillows and many other chars, Bitcoin must regain an EMA that is currently close to $77,500 to avoid a deeper correction.

If BTC cannot close back on top of it, the pillow is warning of a potential decline to the $69,000-70,000 range, coinciding with the 2021 cycle highs. It could also drop to $67,000, with the average entry-level Strategy’s Michael Saylor.

Bitcoin’s “Max Pain” target is nearly $69,000

Bitcoin appeared to have found short-term support for around $74,000. This corresponds to a prominent cost base cluster with over 50,000 BTC held.

GlassNode’s UTXO Realised Price Distribution (URPD) heatmap shows that this is the first major cost base cluster below $80,000. These holders raised the average purchase price until March 10th, then stopped moving coins with confidence rather than panic.

Investors have around 175,000 BTC in the range of about $74,000-$70,000, creating a strong buffer zone. The largest cluster is $71,600, with a concentration of 41,000 BTC, so a $74,000 break would be the next supporter.

Related: Black Monday 2.0? 5 things you need to know about Bitcoin this week

Meanwhile, GlassNode’s Short Term Holder (STH) achieved a current average STH cost base of $89,000 with a -1 standard deviation band of $69,000.

This level serves as a historic “maximum pain” zone for short-term investors during pullbacks in previous bull cycles. This suggests that the weaker hands have surrendered and long-term investors often intervene.

You cannot rule out a $50,000 Bitcoin price target

Historic patterns make Bitcoin enter the long-term bear market after decisively destroying 50 weeks of EMA support. In most cases, such modifications lead prices towards a 200-week EMA, as shown in the red circulation area below.

If fractal analysis is unfolding as intended, the price target for Bitcoin appears to be around $50,000 in the event of a 50-week EMA failure, consistent with the current positioning of the 200-week EMA.

This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.