"Bitcoin (BTC), Next Major Support Level is in the $77,000 to $80,000 Range"

According to the cryptocurrency media outlet CryptoBasic on the 27th (local time), the cryptocurrency analysis firm EGRAG CRYPTO, which has about 58,000 followers on X (formerly Twitter), analyzed that "the next major support level for Bitcoin (BTC) is in the $77,000 to $80,000 range where the CME gap exists."

He stated, "The ongoing turmoil in the market is sparking concerns about further declines," and noted, "Since October 2022, Bitcoin has experienced several crashes, with an average loss rate of about 23.5%."

He further explained, "The current market environment suggests the possibility of a pattern similar to the past. The potential downtrend aligns with historical averages."

Meanwhile, BTC is trading at $94,525.34, down 1.59% from the previous day, as of 01:07 on the 28th in the Binance Tether (USDT) market.