Top 5 things to watch for Bitcoin this week

Cointelegraph has outlined five key factors to watch in the Bitcoin market this week. - Whether BTC can defend its 200-week Exponential Moving Average (EMA); a recovery to $75,000 could signal a trend reversal. - An intense battle between buyers and sellers around the $70,000 level, with a focus on long-term positions. - Macroeconomic variables, including the release of U.S. Personal Consumption Expenditures (PCE) and Gross Domestic Product (GDP) data. - Concentrated on-chain buy demand for BTC around the mid-$50,000 range. - On-chain indicators suggest a market bottom has not yet been reached, with attention on whether the Adjusted Spent Output Profit Ratio (aSOPR) can recover to the 1.0 level.