Bitcoin Deep Dive: $70K Holding After $60K Capitulation — Is This the Local Bottom or Fakeout? 🔍
Binance Square BTC squad, let's zoom in on Bitcoin today.
Last week was brutal: $BTC plunged to ~$60K (16-month low) on heavy ETF outflows, thin liquidity, macro fears, and market maker cascades. Then came the +10-15% rebound — reclaiming $70K fast. Right now? Hovering ~$70K–$70.5K with choppy action.
Key levels & insights:
Support — $68K–$69K (recent bounce zone), below that $65K major test.
Resistance — $72K–$73K (needs break for bullish momentum).
Why the crash? Front-running cycle patterns + over $100B long-term holder sales in 2025. But "much of the bad news already priced in" per analysts.
Bull signals: Whale accumulations, miner difficulty resets, and history of post-capitulation rallies.
Bear risks: More unlocks (Aptos ~$12M today), stablecoin policy drama from White House meeting, or macro pressure could retest lows.
My take: This feels like a classic shakeout building a stronger floor — $60K held as local bottom so far. Long-term BTC still the king for adoption/ETFs, but short-term volatility is high.
Are you going to:
Share your BTC analysis or key levels below — let's dissect this together! 💪
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DYOR — high risk!