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#CanBTCHold65K？
Bitcoin, the leading cryptocurrency, is trying to hold around $67,000; analysts indicate that breaking this level could trigger a sharp wave of selling in the market.
Market data shows that Bitcoin has been confined within a certain range recently, and investors are closely monitoring support and resistance levels. If the critical support level is broken, the price could first drop to around $65,400, with further declines possibly following.
A drop below $66,000 for Bitcoin has also led to a wave of selling across the overall crypto asset market. Additionally, geopolitical risks and increasing uncertainty in global markets are strengthening investors’ risk-avoidance tendencies. This is reported to increase volatility in cryptocurrencies, with Bitcoin and related company stocks experiencing value declines.
It is emphasized that for Bitcoin to resume an upward trend in the long term, it needs to close at higher levels technically. On the other hand, breaking the current support could turn short-term momentum negative and trigger broader sell-offs. In this scenario, a decline toward around $60,000 and increased volatility are possible.