Bitcoin News
By Julie Binoche
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The $65,500 Wall Nobody Can Break. Here's the problem. Bitcoin keeps running into a brick wall around $65,500.
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August History Isn't Helping. Martinez also pulled out the calendar, and it's not pretty.
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What Traders Are Watching. Volume is the key variable. Declining buy-side volume is the detail Rekt Capital keeps coming back…
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Bitcoin dropped to $64,000 this week, sliding back toward a support zone that's been on analysts' radar for a while now.
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Analyst Ali Martinez laid out two scenarios. If Bitcoin holds at $63,800, he thinks a bounce back toward $67,000 is plausible.
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Here's the problem. Bitcoin keeps running into a brick wall around $65,500. That's where the 50-Month EMA sits, and it's basically acted as a ceiling on every breakout attempt…
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Rekt Capital also warned that these repeated rejections are probably forming a new lower high on the weekly chart. That's a bearish signal traders watch closely.
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So you've got two analysts, two different lenses, same general conclusion: the next few days matter a lot.
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Martinez also pulled out the calendar, and it's not pretty. Over the past 12 years, Bitcoin has only posted gains in August three times.
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That said, there's one signal that cuts the other way. Small whales — wallets holding between 100 and 1,000 BTC — have reportedly moved into profitable territory on their…
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Related: Bitcoin Drops Below $65,000 as Geopolitical Tensions Escalate
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The range is tight right now. $63,800 on the floor, $65,500 as the ceiling. Bitcoin is basically trapped between these two levels, and whichever one breaks first probably sets…
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Martinez's $63,800 level has been pivotal for a while. It's not a random number. It's a zone where buyers have stepped in before, and a clean break below it would change the…
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And yet. Small whale accumulation staying profitable is the kind of data point that keeps bulls from completely throwing in the towel. It's a thin silver lining, but it's there.
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The broader crypto market tends to follow Bitcoin's lead, so what happens at these levels doesn't just affect BTC holders.
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