Bitcoin Plummets as Analysts Warn of Deeper Correction Risks

Bitcoin has come under pressure in recent trading after failing to hold above the key US$75,000 level. This has continued the decline of the world’s largest cryptocurrency, sparking investor concerns over a potentially deeper correction.

In recent trading sessions, Bitcoin has remained in bearish territory amid growing sell pressure in the global crypto market. The price drop also occurred as market sentiment remained volatile and traders took profits.

Bitcoin briefly dropped below US$74,200 before falling further to below US$73,000. The latest low was recorded at US$72,470, or approximately Rp1.29 billion, before consolidating.

Currently, Bitcoin is trading below US$74,000 (approximately Rp1.31 billion) and below the 100-hour simple moving average indicator, indicating strong short-term bearish pressure.

Analysts believe Bitcoin could attempt a rebound if it holds above the US$72,000 support level (approximately Rp1.28 billion). However, the path to recovery is expected to be challenging due to several key resistance levels that must be overcome.

‘The nearest resistance is around US$73,750 (approximately Rp1.31 billion), with a bearish trend line adding pressure in that area,’ according to TradingView, Friday, 29 May 2026.

If Bitcoin breaks through US$74,500 (approximately Rp1.33 billion), the price could continue rising towards US$75,150 (also around Rp1.33 billion). Should the upward momentum persist, Bitcoin may test levels of US$75,500 to US$76,200.

Conversely, if it fails to break through resistance, Bitcoin is expected to face renewed selling pressure. The immediate support is at US$72,500 (approximately Rp1.29 billion), with the next key support at US$72,000.

If selling pressure intensifies, Bitcoin could fall to US$71,200 (approximately Rp1.27 billion). Analysts also warn that a drop to US$70,500 (around Rp1.25 billion) is possible in the near term.