Bitcoin is testing a critical support level, and the next move could dictate where the crypto market heads next.
After a strong run, the digital asset is facing some technical pressure, and if buyers don’t step in soon, we could see a much deeper pullback.
Key Levels to Watch
Right now at 1 p.m. ET on Tuesday, Bitcoin is sitting around $87,000 — a level that needs to hold if bulls want to keep control. If this support gives way, we’re likely looking at a move into the $85k to $77k range.
There’s even a case for a retest of the previous all-time high near $74k. That’s not a call for an outright crash, but it’s a realistic technical scenario if Bitcoin keeps losing momentum.
On the upside, the key will be reclaiming $100k and holding it. The recent chop in the crypto space suggests we could see more consolidation before any sustained breakout. If Bitcoin can stay above $90k and push back toward six figures, it could set up another leg higher.
But if we start seeing sustained weakness below key support, traders should be prepared for a deeper correction. That’s not a bad thing — it could present a solid buying opportunity for those who missed the latest run.
Bitcoin and Global Liquidity
One of the biggest factors driving Bitcoin isn’t just technicals — it’s global liquidity. Historically, Bitcoin has moved in lockstep with how much money is flowing through the financial system.
Right now, the Federal Reserve’s balance sheet is shrinking, but global liquidity isn’t drying up completely. China is still pumping money into its economy, and the U.S. money supply is still expanding. If liquidity stays strong, Bitcoin could hold up.
But if we start seeing real tightening across the board, the crypto market could feel the pain.
This is also why Bitcoin still trades like a risk asset. When the market moves to safety, Bitcoin doesn’t suddenly turn into a hedge — it sells off just like high-growth stocks.
That’s a key point traders need to remember.
Bitcoin’s next move is going to be critical. If support holds, we could see another run higher. If it breaks, there’s a real chance we test the $74k area. Either way, the next few weeks will be important for Bitcoin’s long-term trajectory.
I’ll see you in the markets.
Chris Pulver
Chris Pulver Trading
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