Bitcoin trades near $70K as analysts eye $74.5K–$80.6K resistance and $2T market cap floor

Bitcoin is trading around $70,300 after rebounding from a "potential bounce area" near $64,000, with traders watching upside levels at $74,500, $76,600 and $80,600 and downside supports at $60,750, $59,600, $56,560 and $53,340, analysis shared on X by Michaël van de Poppe shows. Van de Poppe noted that altcoins are "acting stronger", while rising trading volume near recent lows and an upward-curving moving average are being viewed as signs of a possible short-term trend reversal. Crypto Seth commented on X that total crypto market capitalization may have formed a bottom around $2 trillion, with weekly RSI turning oversold for the first time since 2022, highlighting support at $2.05–$2.15 trillion and $752 billion and resistance near $3.01 trillion and a $3 trillion capitalization hurdle. Seth added that his long-term trend line still points higher but cautioned that unexpected events such as major exchange collapses or token failures could lead to new lows, while increased volume around support zones could indicate the start of accumulation phases.