Bitcoin Falls Below $76,000 as Tech Stock Selloff Spreads

BTC declined 5.4% over 24 hours to $75,887, dropping clearly below both the SMA20 and SMA50; the short-term trend has deteriorated. Although the RSI at 25.7 is approaching oversold territory, the MACD remains below its signal line and in negative territory, indicating that selling pressure has not yet exhausted. A selloff in technology stocks is weakening risk appetite and increasing correlated pressure on cryptocurrencies. Short-term rebound buying may emerge due to oversold conditions, but recovery could remain limited as moving averages in the $78,000 band form resistance. The overall bias for the next 1-3 days is downward, with high volatility.

Bitcoin's decline below $76,000 acts as a direct negative catalyst for crypto exchange COIN. Technical indicators already point to a weak picture: RSI at 36.8 is approaching oversold territory, while MACD is below its signal line and in negative territory. The price is significantly below both SMA20 and SMA50, confirming the short-term downtrend. A broad selloff in tech stocks could reduce risk appetite and increase pressure on COIN. However, the low RSI level may open the door to short-term bargain hunting, so I am not setting an overly aggressive bearish expectation.