Bitcoin Price Tumbles Below $75,000: Analyst Weighs in on Support Levels

Bitcoin is trading at $76,992.66, up 1.1% over the past 24 hours but roughly flat for the week.

The upcoming inflation data release and key events in the coming days have market participants weighing whether the price will fall below $75,000 today or not.

Analyst Michaël van de Poppe has pointed out that a crucial level of support is at $75,500. If Bitcoin were to break through this level, it could potentially drop to around $74,500, which he views as an attractive entry point for long positions.