Bitcoin tests $73,731 support level… "Summer low is the cycle bottom"

Bitcoin fell to around $72,900, putting its 200-day moving average of $73,731 to the test as a key line separating a bull-market correction from a deeper downturn, according to analysis from Bitcoin analyst Joe Consorti. The drop followed a break below the roughly $76,000 average purchase price for short-term holders and came about six days after bitcoin traded above $81,000. Consorti said a daily close near the 200-day moving average is the decisive signal; losing that level could open the way toward $67,000, though he sees a retest of the summer low in the $58,000 range as unlikely. The level matters because it could determine whether the current pullback stays within an intact uptrend or marks a larger reversal. Traders will be watching whether bitcoin can reclaim and hold above $73,731 on a daily closing basis.