Bitcoin Tests $78K Support, Rebound Possible

Bitcoin briefly dipped below the $78,000 mark for the first time since early May, hitting two-week lows amid persistent selling pressure. Despite the decline, market participants are interpreting the move as a potential bear trap, suggesting that the sell-off may be exhausted and a reversal could be imminent. Technical indicators show oversold conditions, which historically have preceded short-term bounces. However, the broader macroeconomic environment remains uncertain, with regulatory headwinds and global liquidity concerns capping upside momentum. Traders are closely watching the $78,000 level as a make-or-break support zone; a sustained breakdown could open the door to further losses toward $75,000, while a swift recovery above $80,000 would confirm the bear trap narrative and fuel renewed bullish sentiment.

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