Analyst: BTC selling pressure dominant, must hold $75K support

Crypto analyst Kaz stated on X that BTC's failure to reclaim $76,000 suggests a decline is imminent. Kaz noted that an increase in open interest (OI) despite the current price drop indicates a growing inflow of short positions. This pattern differs from past downturns, where OI typically decreased. According to the analysis, selling pressure is dominant in both perpetual futures and spot markets, with buying pressure being virtually absent. Kaz warned that if BTC falls below $75,000 again, it could potentially drop sharply to $73,000. The analyst also pointed out that Thursdays statistically tend to have lower returns and that the market is currently driven by a bearish trend.