Bitcoin Drops Below $80K as Traders Refocus on $74K

Bitcoin’s pullback under $80,000 has shifted trader attention to a $74,000–$75,000 support retest that has repeatedly acted as a pivot over the last two years. On-chain and exchange-flow signals tracked by CryptoQuant weakened sharply after BTC failed to hold momentum above $82,000 earlier in May.

Key Takeaways

Bitcoin lost the $80,000 level over the weekend after failing to sustain a push above $82,000 earlier in May.
The $74,000–$75,000 zone is back in focus as a key support area, with analyst Ardi framing the next retest as a potentially trend-defining battle.
CryptoQuant’s bull-bear structure index briefly turned positive on May 6, then fell to -23.49 by May 17.
Exchange-flow metrics showed increased inflows from 6–12 month holders (average buy price around $110,851) and a jump in older-coin exchange share to 10.54% versus a typical level below 1%.

Bitcoin Slips Under $80K With $74K–$75K Back in Play

Bitcoin’s near-term decision point has moved down the chart. After failing to keep traction above $82,000 earlier in May, BTC lost $80,000 over the weekend, putting the $74,000–$75,000 band back on the desk as the next level that matters.

The setup is straightforward: $80,000 is the psychological handle, but it already failed. That shifts attention to the next area with proven two-way trade, where bids have historically shown up and where a breakdown would force repricing.

BTC was described as approaching that zone after a 5.78% weekly correction to $77,900. The publication page also displayed BTC at $77,056 at the time of capture.

Why $74K–$75K Became a Multi-Cycle Pivot for BTC

The $74,000–$75,000 range has earned its status as a pivot because it has repeatedly flipped roles across cycles and time frames. Ardi pointed to 2024 as the clearest example, when Bitcoin spent about seven months consolidating and struggling to break above the same band.

That history matters because it sets expectations for how liquidity behaves around the level. In Q1 2025, the $74,000–$75,000 area held as support before BTC rallied toward cycle highs at $126,000, reinforcing the idea that this zone has been a trend gate rather than a random midpoint.

Ardi said the next retest of $74,000–$75,000 “could become the most important support test of the current bear market,” a framing that reflects how often the market has used this area to decide direction.

CryptoQuant Signals: Bull-Bear Index Turns Down as Exchange Inflows Rise

CryptoQuant’s bull-bear structure index is leaning into the bearish side of the tape again. The index, which tracks six inputs tied to ETF demand, trader activity, exchange flows, and short-term momentum, briefly turned positive on May 6 as BTC climbed near $82,000. That bullish signal lasted less than three trading days.

By May 17, the reading had dropped to -23.49, consistent with the idea that the post-$82,000 push lacked follow-through and that sellers regained control quickly.

Flow data added a mechanical reason for why spot can feel heavy into support. CryptoQuant data showed more Bitcoin moving onto exchanges from investors who bought six to 12 months ago, with an average buying price around $110,851, leaving many holders sitting on large unrealized losses. The share of older coins moving to exchanges also surged to 10.54%, far above a usual level below 1%.

Market analyst Easy On Chain tied that older-coin move to capitulation-style behavior: “Historically, this reflects investors locking in major losses and exiting the market, creating severe spot-market selling pressure.”

Signals to Monitor Into the Retest

The first tell is whether $74,000–$75,000 holds cleanly on the next retest or breaks with momentum. A hold would force sellers to prove they can keep pressure on without taking out a level that has repeatedly attracted demand.

A second tell is whether BTC can reclaim $80,000 and then sustain above $82,000, the level tied to the earlier momentum failure. Without that, any bounce risks reading as relief rather than regime change.

CryptoQuant’s bull-bear structure index is the third monitor. After printing -23.49, stabilization would suggest selling pressure is cooling, while further deterioration would keep the market in “sell rallies” posture.

If $74,000–$75,000 fails, attention compresses quickly toward $70,000. Trader Alex Wacy outlined the conditional map: holding $70,000 could support a move back toward $85,000–$90,000, while losing it could open a decline toward $50,000–$60,000.

If $74K–$75K Breaks, the Flow Data Matters More Than the Headlines

I treat $74,000–$75,000 as the real market-structure level, not $80,000. BTC already proved it could not sustain above $82,000, then lost $80,000 over the weekend, so the next test is about whether the market still has a deep bid where it previously built and defended positions.

The threshold that matters is whether exchange inflows from underwater cohorts keep rising as price leans on support. If $74,000–$75,000 gives way while the bull-bear structure index stays deeply negative and older coins continue moving onto exchanges, the setup starts to look structural rather than narrative-driven, because the selling is showing up where spot liquidity actually clears.

Sources

Cointelegraph