Bitcoin Tests $75,000 Support While Diverging from US Stock Market Gains

Bitcoin retreats below Tom Lee's Bear Market Line toward $75,000 support, diverging from S&P 500 highs. Derivatives volume surges 54% with heavy shorting activity and rising implied volatility signaling downside risk.

Woofun AI reports that the cryptocurrency market faces a critical juncture as Bitcoin struggles to maintain momentum above the $76,000 threshold defined by Tom Lee’s Bear Market Line. After failing to breach $78,000, BTC price action has retreated toward the $75,000 support level.

Concurrently, Ethereum experienced a pullback from $2,150, testing the $2,000 zone before stabilizing near $2,050, while AI-related assets including RENDER, FET, and NEAR erased most of their previous day’s gains.

This crypto weakness stands in stark contrast to traditional equities, where S&P 500 and Nasdaq 100 index futures reached new all-time highs with approximately 0.3% gains. In derivatives markets, 24-hour futures volume jumped 54% to $201 billion, accompanied by an 87% spike in liquidations largely attributed to post-holiday liquidity restoration. Bitcoin open interest climbed to 740,000 coins, yet negative traded volume delta indicates aggressive shorting via market orders. Similarly, Ethereum open interest hit a record 15.57 million coins with negative delta, suggesting traders are positioning for further declines after breaking key technical support.

Meanwhile, Bitcoin’s 30-day implied volatility index rebounded nearly 3% to 37.35%, reflecting increased hedging against potential downside moves.