Bitcoin must hold $75,500 to preserve bull market structure, Hilbert Group analyst says

Bitcoin must hold above $75,500 to preserve the bullish market structure established since its summer lows, according to Jesse Marre, senior portfolio manager at digital asset investment firm Hilbert Group. In the firm’s October 26 weekly market update, Marre said Bitcoin faces a critical test after recording five consecutive daily declines, losing 5.4% over the week and briefly falling below $80,000. Bitcoin began last week trading near $84,800 before selling pressure across equities and rising oil prices pushed the cryptocurrency to a weekend low of approximately $79,200. Marre identified immediate support between $78,500 and $79,500, where Bitcoin is testing a trend line that has helped sustain its recent consolidation. However, he warned that $75,500 represents a more important structural threshold, with a break below that level potentially reversing the recovery established since the summer. The analyst said a sustained decline below $75,500 could send Bitcoin back toward its previous trading range lows. On the upside, reclaiming $81,400 would return Bitcoin to its near term consolidation range, while a move above $85,000 and $87,500 could open the way for another rally toward...