BTC must break $76K to reverse downtrend, analysis suggests

Bitcoin's rebound from around $60,000 in early February to over $75,000 was merely a short-term bounce within a six-month downtrend, CoinDesk reported. While some analysts had pointed to fundamentals like the Coinbase premium, ETF inflows, and the macro environment to predict a potential rally to $88,000, BTC instead faced resistance at its downtrend line overnight, forming a classic "trendline rejection" pattern. The analysis outlines two potential scenarios: if the trendline resistance holds, a further decline to $65,000 is possible. However, a breakout above $76,000 with significant trading volume could mark a turning point toward a bull market.