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Bitcoin (BTC) is hovering near a critical long-term support zone, with traders eyeing the $68,000 trend line as a potential price floor amid ongoing market weakness. As BTC to PKR remains volatile, analysts believe the 200-week moving averages could play a decisive role in shaping Bitcoin’s next major move.
Bitcoin is approaching its 200-week exponential moving average (EMA) for the first time since late 2023. Historically, this level has acted as a strong safety net during deep market corrections. BTC is currently trading around $72,885, translating to roughly BTC to PKR 20.4 million, keeping Pakistani investors closely focused on this tells.
Crypto analyst Nic Puckrin, CEO of Coin Bureau, highlighted that Bitcoin is trading near Strategy’s cost basis and close to April’s lows. He warned that a break below $70,000 could open the door to deeper downside, but also noted that the $55,700–$58,200 range, between realized price and the 200-week MA, has historically marked long-term bottoms.
“That zone should be the bottom,” Puckrin wrote, pointing to the convergence of long-term indicators.
Other traders echo similar views. Popular trader Altcoin Sherpa said a retest of the 200-week EMA “makes sense,” while BitBull reminded investors that every time Bitcoin lost its 100-week EMA, it eventually retested the 200-week EMA.
“Once the retest happens, you could start accumulating for the long term,” BitBull noted.
This sentiment suggests that while short-term pressure remains, long-term conviction has not collapsed.
Despite a drawdown of over 40%, Bitcoin investors have not fully capitulated. According to Bitwise CIO Matt Hougan, the current crypto winter ongoing since January 2025 may soon be over, noting that historical downturns last around 14 months on average.
Meanwhile, US spot Bitcoin ETFs have recorded $3.2 billion in net outflows, which is only about 3% of total assets under management, signaling resilience rather than panic selling.
For BTC to PKR traders and long-term holders, this reinforces the view that the market may be closer to a bottom than a breakdown.
