Bitcoin (BTC) has finally reclaimed the $74,000 price level and is making an attempt at hitting $75,000. The original crypto had previously faced substantial resistance at the $72,000-$73,000 price level. Hitting $74,000 has likely led to much relief among investors. According to CoinGecko’s Bitcoin data, BTC’s price has rallied 4.8% in the last 24 hours, 8.8% in the last week, 9.6% in the 14-day charts, and 4.6% over the previous month. Let’s discuss if Bitcoin (BTC) can hit $75k this week and if the asset will finally break out.
Will Bitcoin Hit $75k And Enter A Bull Run?
Bitcoin’s (BTC) latest rebound is perplexing, given that global geopolitical uncertainties continue to sprout tensions. The US-Iran talks failed to find common ground in Islamabad, Pakistan, and the US has asked for a blockade of the Strait Of Hormuz. However, many NATO allies seem to be going against President Trump’s desires.
It is possible that investors have identified a pattern of a weekend dips and Monday rallies, which they may be capitalizing on. However, we not out of the storm just yet. Bitcoin (BTC) may face significant resistance at the $75k price level, given that demand at this level is quite low.
Moreover, the chances of an interest rate cut in April 2026 is very low. Higher rates for a longer period may lead to risky assets such as Bitcoin (BTC) taking a hit.
Also Read: Cryptocurrency Market Spends Nearly 1 Month In Extreme Fear
The cryptocurrency market is still quite fragile, and macroeconomic uncertainties and geopolitical tensions continue to worry investors. Given the larger bearish environment, Bitcoin (BTC) may not break into a bullish phase just yet. The asset may face a rejection at around current levels, and could also dip to sub-$70,000 before making another attempt at the highly coveted $75,000 price level.