Bitcoin Around $73,000: The Market Is at a Critical Turning Point
Bitcoin is holding around the SMA100, while the RSI is already entering oversold territory.
Summary:
- Bitcoin is trading around $73,190 and testing the 100-day SMA at $72,929.
- RSI has dropped to 30 – a level close to the February lows.
- The average entry price of holders from 1 to 3 months is around $73,000.
- A drop below $73,000 could open the path toward $69,000.
Bitcoin is trading around $73,190, down 3.4% over the last 24 hours, and the daily chart on TradingView is beginning to show a moment that often determines whether a correction will find a stable bottom or whether selling pressure is only starting to intensify.
The price is currently sitting almost directly on the 100-day simple moving average (SMA), which stands at $72,929 and has been gradually rising since the recovery from the February lows.
Above the current price, the 50-day SMA at $77,170 continues to act as resistance, while the 200-day SMA remains even higher — around $80,000.
RSI Is Already Entering Exhaustion Territory
Another key signal comes from the RSI indicator, which is now around 30 – traditionally considered a sign of an oversold market, where selling pressure gradually begins to weaken.
READ MORE: Bitcoin ETFs Lose Over a Billion as XRP Draws Interest
The last time the daily RSI reached similar levels was around the February lows at $59,948 – just before Bitcoin began recovering over the following months. This does not automatically mean the bottom has already been reached. Rather, it suggests that sellers may gradually be losing momentum at a time when the price is sitting on one of the last more significant technical support levels.
What the On-Chain Data Shows
CryptoQuant data on realized prices across different UTXO age groups adds another important layer to interpreting the situation.
UTXO shows when specific BTC were last moved on the blockchain, allowing the market to be divided according to how long different investors have been holding their coins. Realized price reflects the average price at which a given group of holders last moved their BTC and is often used as a reference point for their average entry price.
At the moment, holders who bought Bitcoin during the last 1 to 3 months have an average entry price around $73,251 — almost exactly at current market levels. This further strengthens the area around $73,000 as a key support zone, since both the 100-day SMA and the on-chain data converge there.
If the price falls below this level, a large portion of short-term participants would move into losses, which historically often increases pressure from additional selling.
Below this zone, the next important level in the data is around $69,203 – the average entry price of holders who have been holding their BTC for between 18 months and 2 years. This group is generally more resilient and has historically reacted more calmly during larger corrections.
Where the First Major Resistance Lies
On the other side of the chart, the nearest on-chain resistance is around $79,011. This is the average entry price of the newest buyers who entered the market during the last 1 week to 1 month. A move back above this zone would mean that the shortest-term participants are once again in profit, which historically often reduces selling pressure.
Above $79,000, the next more significant obstacle appears around $83,996 – the zone where the cost basis of holders from 3 to 6 months is located.
The key level to watch remains $72,929. A daily close below it would be the first more serious signal that the correction is deepening.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Kosta Gushterov
Reporter at CoinsPress
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
