Bitcoin Price Prediction: A Break Below This Support Could Drag BTC to $65K, Triggering Liquidations

Bitcoin price remains under pressure after failing to reclaim higher levels, with bears tightening their grip following a rejection near $76,000. The price continues to trend within a descending structure, keeping any recovery attempts capped in the short term. At the time of writing, BTC trades near $68,200, down over 1.5%, broadly in line with the overall crypto market weakness.

The latest pullback appears to be driven by a shift in institutional sentiment, as ETF flows show signs of reversal amid rising geopolitical uncertainty. At the same time, Bitcoin’s growing correlation with traditional assets has added another layer of pressure, with risk markets showing increased volatility.

Despite near-term weakness, a divergence between price action and accumulation is evident, suggesting the current correction may be temporary, even as downside risks to lower support zones remain active.

BTC Whales Accumulate While Price Trades Within a ‘No-Trade Zone’

On-chain data from Santiment, shared by Ali, highlights a slight shift in whale behaviour, with large Bitcoin holders trimming their positions after a period of steady accumulation. Wallets holding significant BTC balances remained largely stable between the 19th and 21st before registering a modest decline on the 22nd. 

This drop—from roughly 1.15 million BTC to near 1.14 million BTC—suggests measured profit-taking rather than aggressive selling pressure. This occurs when the price is stuck between a range, which is called the ‘No-Trade Zone’ by the analyst. 

The above chart highlights an important price range between $70,685 and $65,636, where over 1.72 million BTC were transacted in the range. This heavy concentration of activity suggests that market participants are strongly defending their positions, making this range a key battleground for short-term price direction. As a result, Bitcoin may continue to trade sideways unless a decisive move occurs. A breakout above $70,685 could restore bullish momentum, while a breakdown below $65,636 may open the door for a deeper correction.

Until then, the market appears to be in a phase of consolidation, with traders likely waiting for confirmation before positioning for the next major move.

BTC Price Analysis: Breakdown Risk Builds Below Key Support

Bitcoin continues to trade under pressure after facing rejection near the $75,000–$76,000 zone, with the price now hovering around $68,600. The broader structure shows BTC moving within a narrowing range, while short-term momentum begins to weaken. From a technical standpoint, the price is struggling to reclaim the mid-range resistance near $71,000, keeping the upside capped. At the same time, indicators suggest fading strength, with momentum flattening and volatility starting to expand toward the downside.

As seen in the above chart, the BTC price is following the bearish chart, which largely resembles the bear flag. The price is now hovering around $68.6K, sitting just above the mid-range support while attempting to hold the lower boundary of the channel. A breakdown from this structure could invalidate the short-term bullish setup and accelerate downside pressure.

Indicator Breakdown

• Bollinger Bands: Price is drifting toward the lower band, suggesting increasing downside pressure and potential volatility expansion

• Moving Average (20 SMA): BTC is struggling to reclaim the mid-band, indicating weak bullish momentum

• MACD: Momentum is flattening with a potential bearish crossover forming, signaling loss of upward strength

Key Levels & Structure

• Immediate Resistance: $71,000 → $75,500
• Channel Resistance: ~$75K (recent rejection zone)
• Immediate Support: $67,000 → $65,600
• Critical Breakdown Level: $65,600

Bitcoin Price Prediction: What to Expect This Week?

Bullish Scenario (Less Likely Short-Term): If Bitcoin manages to reclaim $71K and break above the channel resistance near $75K, the structure could shift bullish again, opening the door toward $80K+.

Bearish Scenario (Trigger Zone Below $65K): A confirmed breakdown below $65,600 would invalidate the current channel and likely trigger a sharp move toward $63K, followed by $60K.

Wrapping it Up: Why $65,000 is an Important Range for BTC Price

The $65,000 level now stands as a critical line for Bitcoin’s short-term trend, with over $3 billion in long positions at risk of liquidation below this zone. This makes it not just a technical support but a key liquidity threshold that could dictate the next major move.

As long as the Bitcoin (BTC) price holds above $65,000, the broader bullish structure remains intact, allowing the price to stabilize and attempt a recovery. However, a breakdown below this level could trigger a cascade of liquidations, accelerating downside pressure and potentially shifting market sentiment in favor of the bears.

In essence, $65,000 is not just support—it is the level that separates consolidation from a deeper correction.