Binance SAFU Fund Adds 3,600 Bitcoin ($233M) As Market Faces Pressure
Bitcoin has experienced one of its sharpest corrections in recent years, slipping below the $65,000 level and reaching its lowest price since October 2024. The decline reflects persistent selling pressure across the crypto market, accompanied by deteriorating macro sentiment, reduced liquidity, and cautious positioning among institutional participants. Recent price action suggests the market is entering a critical phase where confidence, rather than technical levels alone, may determine the next directional move. From a trend perspective, Bitcoin is now trading below the 50-week moving average while approaching the 100-week average. Historically, a critical dynamic support during corrective phases. The 200-week average remains far below, indicating the long-term macro trend has not fully reversed, although intermediate momentum has clearly weakened.Related Reading
Volume dynamics also matter here. The recent selloff shows rising participation compared with earlier consolidation periods, suggesting distribution rather than simple profit-taking. However, sustained high volume without further price acceleration downward could signal seller exhaustion.
If Bitcoin fails to reclaim the $70K area, downside risk toward the $60K–$55K zone remains plausible. Conversely, stabilization above current levels would indicate absorption, a necessary precursor for any meaningful recovery.
Featured image from ChatGPT, chart from TradingView.com
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