Analysis: The key trend line of Bitcoin is at $68000, which may serve as a "bottom line" for the price According to BlockBeats news, on February 4th, multiple traders pointed out that Bitcoin is approaching the long-term key support level of the 200 week moving average (EMA/SMA), around $68000, which may become an important bottom area in this round of adjustment. Analysis suggests that this is the first time BTC has retested this long-term trend line since the end of 2023. Historical data shows that after falling below the 100 week moving average, Bitcoin often retraces to the 200 week moving average and forms a medium - to long-term bottom. Some traders predict that if the price further declines, the $68000 line will be a key observation area, and if it falls, the next attention range may move down to $55000-58000. Despite BTC's pullback from its high point exceeding 40%, market sentiment has not shown a complete surrender. Institutional analysts point out that the "winter" in the cryptocurrency market usually lasts for about 14 months, and the current stage may be nearing its end. At the same time, the US spot Bitcoin ETF has had a net outflow of approximately $3.2 billion since mid January, accounting for only about 3% of its total managed size, indicating that long-term fund resilience remains.