Bitcoin trades near $77K as analysts Ted Pillows, Ali Martinez, and Captain Faibik warn of major BTC moves between $72K support and $90K resistance.
Bitcoin, the world's largest cryptocurrency, has ended the third week of May under pressure as traders closely watch whether BTC can recover above key resistance levels or face another major correction. After failing to hold above $80,000 earlier this month, Bitcoin is now trading near $77,573 while attempting to stabilize around the important $76K support zone.
Even though the market remains uncertain, top crypto analysts believe Bitcoin is entering a critical phase that could decide the next major move for the world’s largest cryptocurrency.
Over the past week, Bitcoin faced heavy selling pressure after its rally toward $83,000 lost momentum. Despite the pullback, the broader market structure has not completely broken yet.
Popular crypto trader Ted Pillows explained that Bitcoin has developed strong liquidity zones both above and below the current price range.
According to Ted Pillows, major upside liquidity now sits between the $78,000 and $81,000 levels, while a large downside liquidity cluster has formed below $76,800.
Liquidity zones are important because markets often move toward areas where large numbers of positions and orders are concentrated.
At the same time, Bitcoin open interest climbed to nearly $29 billion earlier this month, marking the highest level since January 29. The rise showed that traders aggressively opened new positions during Bitcoin’s move toward $83,000.
Much of that activity came from Binance, which alone accounted for roughly $9.03 billion in Bitcoin open interest.
Crypto market analyst Ali Martinez believes Bitcoin may currently be entering a strong accumulation phase despite recent price weakness.
In a post shared on X, Martinez explained that Bitcoin’s MVRV ratio recently moved below its 180-day simple moving average. The MVRV ratio is an on-chain metric used to measure whether Bitcoin is trading above or below its average realized value across the market.
According to Martinez, this transition often signals a cooling period where excessive market speculation gets flushed out.
He explained that, “When the MVRV ratio sits below the 180-day moving average, it means the market is effectively flushing out premium and pricing at a deep discount.”
Martinez also noted that similar periods historically created strong long-term accumulation opportunities for institutional and high-conviction investors.
So as long as Bitcoin remains below the MVRV trend line, the market may continue offering strategic accumulation opportunities
At the same time, Bitcoin’s Net Unrealized Profit/Loss (NUPL) indicator has started recovering from February’s low levels.
The metric currently sits around 0.29, showing that average Bitcoin holders remain in moderate profit territory without reaching the euphoric levels normally seen near major market tops.
Not all analysts remain bullish in the short term.
Popular crypto trader Captain Faibik warned that Bitcoin could still revisit the $71,000–$72,000 support zone if market weakness continues.
According to Faibik, the next few trading sessions will be extremely important for determining whether Bitcoin can stabilize above current support levels or face another larger correction.
His warning comes as traders continue monitoring broader macroeconomic conditions, ETF flows, and market liquidity.
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