$100 Million Wall Halts Bitcoin’s Fall as Whales Defend $65k

$100 Million Wall Halts Bitcoin's Fall as Whales Defend $65k
Table of Contents


  • Bitcoin is showing resistance around $60,000 as it approaches a $100 million liquidity zone.
  • The concentration of liquidity in the $63,000 to $65,000 range suggests a battle between buyers and sellers.
  • Analysts emphasize the importance of key support levels, such as $58,000 and the 21-week simple moving average.

Bitcoin (BTC) is experiencing a consolidation phase with tight moves around the $60,000 mark.

Despite positive US unemployment data, BTC price has shown weakness, even falling below $61,000 at one point.

The fight for liquidity has intensified, with over $100 million of liquidity in the price range between $63,000 and $65,000 according to Material Indicators FireCharts 2.0.

This liquidity analysis suggests that selling pressure is significant in the near term, which could limit BTC‘s gains in the near term.

Analysts such as Keith Alan point out that key support levels at $58,000 could be crucial to maintaining an uptrend.

Furthermore, the 21-week simple moving average is also mentioned as an important level to watch, currently located around $56,127.

However, as Bitcoin remains at the bottom of the price range, around $60,000, traders and analysts are keeping an eye on any significant breakout.

The lack of solid support at $60,000 could lead to a deeper correction towards levels like $58,000 or even $52,000 if bearish pressure persists.

$100M Wall Stops Bitcoin Fall as Whales Defend $65K

What to expect in the short term in Bitcoin?

In terms of price action, stability around $60,000 suggests BTC is consolidating ahead of its next significant move.

Investors should pay attention to breakout signals both above $65,000 and below $58,000 to get a clearer idea of ​​the future direction of the market.

The lack of major fundamental developments has also contributed to this consolidation phase.

Although the halving event in April was an expected event, its direct impact on the market may have diminished over time.

Investors are now looking for additional catalysts, such as regulatory or institutional news, to drive the next big trend in Bitcoin price.

As Bitcoin faces a battle for liquidity and support levels, investors should be cautious but also prepared to take advantage of opportunities that arise with any significant price movement.

Close monitoring of key levels and continuous analysis of price action will be essential in the coming weeks to understand market developments.


Follow us on Social Networks

Crypto Tutorials

Crypto Reviews