Bitcoin (BTC) deepened six-week lows at Friday’s open on Wall Street as U.S. stock markets hit all-time highs.

Key points:

• Bitcoin falls closer to $72,000 as analysis points to ‘key’ BTC price levels.
• U.S.-Iran ceasefire talks are sending stocks to even higher records as cryptocurrency divergences continue.
• Bitcoin’s 100-day moving average is gaining ground as a battleground for bulls.

BTC price analysis shows that a “key” range is currently in play

Data from TradingView showed BTC/USD fell to $72,395 on Bitstamp as the TradFi US trading session began.

BTC/USD 1-day chart. Source: Cointelegraph/TradingView

Continuation of A losing streak both pairs have seen renewed downward pressure in recent weeks, even as share prices continue to rise towards price discovery.

The S&P 500 started Friday with novel record highs, as did the Dow Jones Industrial Average.

One-hour chart S&P 500 vs. Dow Jones. Source: Cointelegraph/TradingView

Waiting a eternal ceasefire between the US and Iran gained momentum even as military attacks continued.

Commenting, trader and analyst Michaël van de Poppe argued that geopolitical changes could still save Bitcoin’s price trend.

“Bitcoin will soon hit lows if this level of support does not hold. This is simply reality,” he wrote in his write to X.

“Any amount between $72,000 and $74,000 is crucial and could signal the end of the correction, especially if Trump signs a new deal -> rates fall -> oil falls -> risky assets (especially cryptocurrencies) rise.”

BTC/USDT 1-day chart. Source: Michaël van de Poppe/X

Van de Poppe suggested that $77,000 was the cutoff to start the “next step up.”

“If this does not happen, we will soon see another move towards lows and possibly new lows in the altcoin markets,” he added.

The weekly close tilted to see additional volatility

Continuing the general sense of caution among Bitcoin market participants, trading account CGT Trader warned that long BTC positions could be liquidated next.

Related: Bitcoin Says Goodbye to CME Futures Gaps, with 67K Still on the Radar dollars

“Loading long in advance… The price continues to fluctuate while funding remains strongly positive and the number of open positions continues to decline. This usually suggests that the market is still aggressively leaning into a long position, even if some participants are already closing positions and taunting” – post X To read.

“At the same time, spot volume continues to decline, pointing to underlying weakness. Given these conditions, a long squeeze looks increasingly likely.”

Binance BTC/USDT futures order book data. Source: CGT Trader/X

Data from CoinGlass showed that at the time of writing, the total 24-hour crypto liquidation has exceeded $200 million.

History of cryptocurrency liquidation (screenshot). Source: CoinGlass

Looking ahead, trading material indicators told followers to “expect volatility” in Bitcoin as Sunday approaches its common daily, weekly and monthly close.

“We have a liquidation group of approximately $76K and a developing H&S structure that could bring the price down to Q2 Timescape R/S levels in the $68K-$69K range,” the report said. excellentciting data from their own trading tools.

“The most important thing will be whether the bulls manage to rebound from the 100 DMA and what the weekly RSI indicator will be after the close of W.”

BTC/USD 1-hour chart with 100-day SMA. Source: Cointelegraph/TradingView

Materials indicators were referenced to the 100-day basic moving average, which currently stands at $72,972.