$BTC
is in a critical situation after $300M in long positions were liquidated within hours, sending the price to the $66K zone. The market is now caught in a tense debate: will BTC test the $60K support first, or will it bounce towards the $70K resistance?
The liquidations have shaken confidence, with funding rates turning negative and sentiment sliding towards fear. Macroeconomic winds — oil above $100 and geopolitical tensions — increase the pressure. However, whales and ETF inflows remain a counterforce, suggesting that accumulation could stabilize the price.
The chart structure shows #BTC floating near a fragile support. A break below $66K could trigger panic sales towards $60K, while a solid defense here could set the stage for recovery. Traders are watching closely: the next decisive move will depend on whether buyers step in to absorb the shock or if shorts continue to dominate.
#bitcoin is at a crossroads. The liquidation has exposed weaknesses, but it has also cleared leverage. If support holds, $70K could be next. If it breaks, $60K is the likely destination. The coming days will reveal which side of the market has the conviction to win.
⚠️ Risk Note: Persistent negative funding and macroeconomic stress tilt the bias downward, but ETF inflows and whale activity remain the wild cards that could change sentiment quickly.