Bitcoin Trades Below $75,000 Mark for First Time Since November

Bitcoin's price dropped below $75,000 for the first time since November, closing below $78,500. The currency experienced a 9.1% correction, hitting its lowest level in five months.

Key Points

Bitcoin traded below the $80,000 support zone and is currently around $79,200.
The recent decline has been attributed to market volatility from an ongoing tariff war.
Bitcoin's current price drop of 31% follows its all-time high of $108,786 in January.
Analysts suggest Bitcoin may retest the $70,000 support if it fails to reclaim key resistance levels.
Rekt Capital highlighted that BTC needs to hold above $78,500 to avoid further declines.
A close below this level could trigger a bearish trend towards the $69,000-$72,000 range.

Investors should monitor Bitcoin's ability to regain support at critical levels to gauge potential short-term movements.