$BTC Bitcoin fell below $78,000 for the first time since the start of May, but traders refused to give up hope of a BTC price rebound coming next.

BTC
BTCUSDT
61,894.6
+0.56%

Bitcoin (BTC) circled $78,000 on Saturday after geopolitical headwinds erased most of its May gains.

Key points:

  • Bitcoin falls below $78,000 for the first time since the start of May.

  • Oil-supply woes combine with existing nerves over US bond markets, adding to headwinds for risk assets.

  • Support weakness has traders looking at $75,000 and under next, while optimists see a "bear trap" forming.

    BNB
    BNBUSDT
    565.87
    +0.52%

    Multiple hurdles "coming together" for crypto, risk assets

    Data from TradingView confirmed new lows of $77,614 on the day — the lowest levels since May 1.

    ETH
    ETHUSDT
    1,730.56
    +1.96%