Bitcoin price tests $75K as Supertrend turns bearish

Bitcoin (BTC) was trading around $76,200 after a week of volatility driven by both legislative and monetary developments. The price slipped about 4% over the past seven days after briefly approaching $80,000.

Key technical levels

On the daily chart, BTC sits below its 20‑day simple moving average (SMA) near $78,100. The 50‑day SMA is around $71,933, while the 100‑day and 200‑day SMAs sit near $67,639 and $70,320 respectively. Resistance on the 4‑hour chart is identified near $78,600, with the Supertrend indicator now above price, marking a bearish bias.

Momentum indicators

The Chaikin Money Flow (CMF) dropped to –0.11, indicating that selling pressure has exceeded buying pressure over the recent 20‑period window. The 4‑hour Relative Strength Index (RSI) is at 43, below the neutral 50 level, suggesting weak momentum but not yet oversold conditions.

Liquidity and liquidation clusters

CoinGlass liquidation heatmaps show a significant cluster of leveraged positions around $74,600‑$74,700, below the recent low, and additional clusters above $76,600, $77,500‑$77,800, $78,300 and $80,000. These zones could trigger forced liquidations and increase price volatility if breached.

Fundamental backdrop

The U.S. Senate failed to advance the Digital Asset Market CLARITY Act, missing the 60‑vote threshold needed for passage. The legislation aimed to clarify the division of oversight between the SEC and CFTC. Around the same time, the Federal Reserve raised its policy rate by 25 basis points to a range of 3.75%‑4.00%, its first increase since 2023, adding pressure to risk‑sensitive assets like Bitcoin.

Outlook

For bulls, reclaiming the 4‑hour support around $76,600 and breaking above $78,600 would be needed to revive a move toward $80,000. A sustained break below $75,000 could expose the liquidation cluster near $74,600 and broader downside zones between $70,300 and $71,900.