BTC declined in early trading, breaking below the $65,000 level. Current price: * BTC: ~$64,044 * 24H range: $63,806 - $65,391 * ETH: $1,878 Market pressure stems from three main sources: 1️⃣ Liquidation wave Over the past 24 hours, $722 million in total liquidations occurred across the network: * $534 million in long positions liquidated * Longs were the primary target of liquidations This indicates that leveraged long positions built during the earlier rally are being unwound. 2️⃣ BIP-110 fork uncertainty Growing expectations of a Bitcoin fork have raised concerns over replay attacks and transaction risks, increasing short-term uncertainty for BTC. 3️⃣ Macro window turns critical Weak non-farm payrolls data and rising expectations of Fed rate cuts; Simultaneously, easing tensions between the U.S. and Iran have reduced pressure on risk assets. However, capital flows have not deteriorated: * BTC ETFs saw net inflows of $854 million last week * BlackRock’s IBIT continued to attract consistent net inflows * Long-term capital remains absorbing volatility Short-term watch levels: 📍 BTC Support: $63,000 - $63,500 Resistance: $65,000 - $65,500 A break below $63,000 could lead to a test near $60,000; A reclamation above $65,000 may help restore bullish structure. 📍 ETH Support: $1,850 - $1,880 Resistance: $1,930 The current market is not simply in a downtrend—it’s a tug-of-war between leveraged capital being cleared and institutional capital absorbing the sell-off. Today’s key focus: Will BTC hold above $63,000? This level may determine the launch point for the next rally. Risk disclaimer: The above content is for market information and analytical purposes only and does not constitute investment advice.
BTC Drops Below $65,000 Amid Liquidation Surge and Market Uncertainty
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Summary
BTC price dipped below $65,000 in early trading, currently at $64,044. The 24-hour range was $63,806 to $65,391. A $722 million liquidation wave, uncertainty around a Bitcoin fork, and macroeconomic factors are pressuring the BTC market. Despite this, BTC ETFs added $854 million last week. Key support lies at $63,000–$63,500, with resistance at $65,000–$65,500. The market is currently in a phase of leveraged fund liquidation and institutional absorption.
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