Bitcoin (BTC) lost its hold on the $80,000 level over the weekend, with analysts identifying the $74,000–$75,000 range as the next critical support test. This price zone has served as key support repeatedly over the last two years, making its retest potentially the most important support test of the current bear market, according to crypto analyst Ardi. Bitcoin is now approaching this level after a 5.78% weekly correction to $77,900.
Ardi highlighted the historical significance of the $74,000–$75,000 range across multiple timeframes. In 2024, Bitcoin struggled to break above this range during a seven-month consolidation period. In Q1 2025, the same area held as support before BTC rallied toward its cycle highs at $126,000. The analyst noted that the zone carries added weight because several major price pivots formed at $74,000–$75,000 across multiple time frames.
## Support Levels Define Next Bitcoin Move
Crypto trader Alex Wacy focused on the $70,000 level as a critical threshold. If Bitcoin holds that area, it could support a move back toward $85,000–$90,000. However, losing the $70,000 support could open the door to a larger decline toward the $50,000–$60,000 range.
BTC/USD, one-day chart analysis by Ardi. Source: X
## Bitcoin Market Signal Weakens Again
Bitcoin researcher Axel Adler Jr. reported that the Bitcoin bull-bear structure index turned bearish again after BTC failed to stay above $82,000 earlier this month. The index tracks six indicators linked to exchange-traded fund (ETF) demand, trader activity, exchange flows, and short-term price momentum. A positive reading indicates buyers are in control, while a negative reading points to growing seller pressure.
The bullish signal lasted less than three trading days. On May 6, the index briefly turned positive as Bitcoin climbed near $82,000. By May 17, the reading had dropped to -23.49, indicating that sellers quickly regained control.
Bitcoin bull-bear structure index. Source: CryptoQuant
## Investor Exit Signals Intensify
CryptoQuant data showed more Bitcoin moving onto exchanges from investors who bought BTC six to 12 months ago. The average buying price was around $110,851, meaning many are now sitting on large unrealized losses after the latest drop.
The share of older coins moving to exchanges surged to 10.54%, far above its usual level below 1%. Market analyst Easy On Chain stated: "Historically, this reflects investors locking in major losses and exiting the market, creating severe spot-market selling pressure."
