For Bitcoin HODLers, the Super Bowl Is Here
Bitcoin needs a strong defense as bulls and bears battle over this key technical level.
You're reading 0 of 1 free page.
Register to read more or Unlock Pro — 50% Off Ends Soon
On October 6, 2025, bitcoin reached an all-time high of $126,210.
That wasn’t that long ago. The NFL season, which ends with this weekend’s Super Bowl, was already in its fifth week.
It’s been said that in football, defense wins championships. A good example of this is the Super Bowl XXXV champion Baltimore Ravens. Led by defensive stalwart Ray Lewis, the Ravens trounced the New York Giants, holding their opponents to just seven points.
Bitcoin on the Defensive
Right now, bitcoin could use a middle linebacker like Ray Lewis. It could use a Reggie White, a Mike Singletary, and a Lawrence Taylor too.
That’s because the game is on the line, and it’s bitcoin’s turn to play defense. On Tuesday, bitcoin reached its lowest price in over a year, trading as low as $72,863 before repelling the bears.
For a short time on Tuesday, bitcoin crossed a key defensive line — the April 7, 2025 (arrow) low of $74,434 (black dotted line).
In addition, bitcoin is trading below its 50-day moving average (blue) and its 200-day moving average (red). Both moving averages are declining, a bearish signal.
As of this writing, bitcoin was precariously positioned back above $74,434. Bitcoin swung wildly above and below that key figure several times, as buyers attempted to defend the line.
Here’s why it matters: When bitcoin’s price trades below $74,434, it means that nearly every trader who purchased the digital currency over the past year is losing money. If this weakness persists, expect some softer hands to tap out.
Bearish Pattern Looms Large
When we zoom out to bitcoin’s weekly chart, a bearish formation comes into view. Over the past 15 months, bitcoin has formed a head and shoulders pattern (L-H-R).
While this bearish formation suggests bitcoin could fall sharply from here, there is a significant area of support from approximately $60,000 to $65,000 (shaded yellow) that could act as a cushion against further downside.
The Battle Rages On
Not only are newer bitcoin traders failing to turn a profit, by tying up capital in digital currencies, they are missing out on an ongoing rally in stocks.
Over the past 12 months, the S&P 500 (left chart) has gained about 15%, while bitcoin (right chart) has lost about 25%.
Good News for Bitcoin Bulls
The good news for bitcoin bulls is that a bounce from this current area could attract more participants and restore confidence for current holders. In order for that to happen, bitcoin will first need to make a goal-line stand at $74,434. If that bounce happens, bullish momentum could carry bitcoin to $93,600, the digit currency's January high.
At the time of publication, Ponsi had no positions in any securities mentioned.
