Analyst: Bitcoin Uptrend Remains Intact If Key $75K–$76K Support Holds

Bitcoin’s recent price correction, which triggered widespread liquidations of long positions, has not yet broken the broader uptrend, according to cryptocurrency analyst Michaël van de Poppe. In a post on X, van de Poppe noted that despite a sharp increase in trading volume and significant losses for leveraged long traders, Bitcoin avoided a deep breakdown—a sign that underlying demand may still be absorbing selling pressure.

Correction Pattern Differs From Past Downturns

Van de Poppe highlighted a notable divergence from previous corrections: altcoins experienced relatively limited losses compared to Bitcoin. In typical market pullbacks, altcoins tend to fall more sharply than BTC, amplifying overall portfolio damage. The more contained decline in altcoins this time suggests a shift in market structure, possibly reflecting lower speculative leverage or a more selective selling environment.

However, the analyst cautioned that the picture is not entirely bullish. Weekly and monthly chart indicators continue to flash bearish signals, meaning further downside cannot be ruled out. The correction, while orderly so far, has not yet confirmed a reversal of the broader bearish momentum on higher timeframes.

Key Support Zone and CME Gap Target

Van de Poppe identified the $75,000 to $76,000 range as the critical support zone for Bitcoin. If BTC can hold this level, he expects a rally toward $79,210—the location of last week’s CME futures gap. CME gaps, which form when futures markets open at a different price than the previous close, often act as price magnets that Bitcoin tends to fill over time.

The $79,210 target represents a roughly 4% upside from the $76,000 support level, offering a defined risk-reward setup for traders monitoring the zone. A decisive break below $75,000, however, would likely invalidate the bullish thesis and open the door to deeper losses.

What This Means for Traders and Investors

For short-term traders, the $75,000–$76,000 zone provides a clear line in the sand. Holding above it keeps the uptrend intact and makes the CME gap a plausible near-term target. For longer-term holders, the analyst’s comments reinforce the importance of monitoring weekly and monthly closes. Until those timeframes turn bullish, any rally should be viewed as a recovery within a broader corrective phase rather than a new impulsive leg higher.

The broader market context also matters. Bitcoin’s ability to hold support amid a wave of long liquidations suggests that institutional or high-net-worth buyers may be stepping in at these levels. However, with macroeconomic uncertainty still weighing on risk assets, the sustainability of any bounce remains unconfirmed.

Conclusion

Bitcoin’s uptrend is not yet broken, but it is under pressure. The $75,000–$76,000 support zone is the key level to watch. A hold could lead to a move toward $79,210, while a breakdown would signal a shift in market sentiment. As always, traders should manage risk carefully and avoid over-leveraging in a volatile environment where higher timeframe signals remain bearish.

FAQs

Q1: What is a CME gap and why does it matter for Bitcoin?
A CME gap occurs when Bitcoin futures on the Chicago Mercantile Exchange open at a different price than the previous close, creating a ‘gap’ on the chart. Historically, Bitcoin tends to fill these gaps, making them common price targets for traders.

Q2: Why is the $75,000–$76,000 level considered key support?
Analysts identify this zone based on prior price action, order book liquidity, and technical levels. Holding above it suggests that buying demand is strong enough to absorb selling pressure, keeping the uptrend alive.

Q3: Should I buy Bitcoin if it holds $75,000?
Not necessarily. A hold at support is a positive sign, but higher timeframe charts still show bearish signals. Any decision should be based on your own risk tolerance, investment horizon, and broader market conditions. Consider waiting for confirmation from weekly or monthly closes before adding to long positions.