Bitcoin slipped below the $74k mark during U.S. morning trading after another failed attempt to break through the critical $75k to $76k resistance zone. The leading cryptocurrency dropped about 2% within minutes, briefly falling to nearly $73,414 and extending its 24-hour losses to more than 1%.
The $75,000–$76,000 range remains a significant technical barrier, as it was the level where Bitcoin traded before the Feb. 5 market crash that pushed prices down to around $60,000. Analysts view a successful breakout above this range as a potential signal for a broader recovery that could drive prices toward the $90,000 level seen at the start of the year.
Major U.S. indices paused following record highs, while crude oil prices climbed roughly 2% to reclaim the $90 level amid ongoing geopolitical supply concerns.
Software Stocks Gain Momentum as Bitcoin Performance Stalls
Technology and software stocks have recently shown renewed strength after trailing Bitcoin earlier this year. Before the Middle East conflict began in late February, Bitcoin and software equities moved closely together, showing nearly a one-to-one correlation.
Since the conflict started, Bitcoin has gained more than 11%, while the IGV software exchange-traded fund rose about 2%, creating expectations that Bitcoin was separating from traditional tech performance. However, over the past five days, IGV surged nearly 11% while Bitcoin remained mostly flat, suggesting software stocks may simply be catching up rather than losing correlation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.