Bitcoin's latest leg down is bad news for anyone holding or trading right now, though there's a chance the worst is already over.

• Bitcoin broke below the key $76,000 level and tumbled as low as the mid-$60,000s, which was flagged in advance as the "bloody" downside scenario if that support failed.
• The breakdown confirms a bearish structure after a weekly close below $76,000, a level that had been the line in the sand between a bounce higher and a slide lower.
• Chart structure suggests the mid-$60,000s zone (previously resistance, then support twice during this downturn) could act as a floor again, offering a possible bottom.
• The broader bear market is now over a year old, which is unusually long and has been grinding down sentiment even among people still holding on.

Outlook: A bounce from the mid-$60,000s is the hoped-for scenario, but a failure to hold that zone would open the door to further losses.

## Bitcoin Levels

• **Bias:** Bearish short-term, watching for a bottom
• **Support:** $76,000 (broken, now resistance); mid-$60,000s / $65,000–$66,000 zone
• **Resistance:** $76,000
• **Targets:** Mid-$60,000s as worst-case downside target
• **Invalidation:** A weekly close back above $76,000 would flip the picture bullish; failing to hold $65,000–$66,000 would signal more downside