Bitcoin Falls Below $74,000 After Failing to Break Resistance at $75,000-$76,000

S. morning trading on April 16, 2026, after failing to break through the $75,000-$76,000 resistance range. The cryptocurrency fell about 2% within minutes, reaching approximately $73,500 and marking a decline of over 1% in the past 24 hours.

This resistance level is significant as it corresponds to the price range bitcoin traded at before the market decline on February 5, which lowered bitcoin to $60,000. A sustained move above this range could indicate a potential rise toward the $90,000 level seen at the start of the year. 1% an hour into the session.

Stocks linked to cryptocurrency, including Coinbase, Strategy, Robinhood, and Circle, also declined between 2% and 3% during morning trading. Meanwhile, crude oil prices increased by about 2%, returning above the $90 level amid ongoing geopolitical tensions affecting supply.

Market Correlations and Software Sector Performance

Prior to the Middle East conflict at the end of February, bitcoin and software stocks moved with a nearly 1:1 correlation.

During that period, bitcoin outperformed the software exchange-traded fund (ETF) IGV. Since the conflict began, bitcoin has gained over 11%, while IGV increased by roughly 2%, suggesting a divergence between the two. However, in the past five days, IGV has risen by approximately 11%, while bitcoin's price has remained relatively flat.

5%. This recent movement indicates that software stocks may be catching up to bitcoin rather than fully decoupling.