The Bitcoin price
The latest movement has reignited discussions among traders because Jane Street has previously been linked to major crypto market events. During the Terra Collapse in 2022, the firm’s trading activity reportedly drew attention amid the extreme market turbulence surrounding the fall of TerraUSD and Luna.
Currently, Bitcoin is trading around $68,700, and the immediate focus shifts toward the $66,000–$66,500 demand zone, which previously acted as a strong support region. This level also aligns with the lower boundary of the ascending channel and could serve as a crucial area where buyers may attempt to defend the price. The Relative Strength Index (RSI) on the 4-hour timeframe has dropped toward the 40 level, suggesting that bullish strength is fading while sellers gradually gain control.
If Bitcoin manages to reclaim the $70,000–$71,000 zone, it could signal renewed buying interest and potentially push the price back toward the $72,000 resistance level. A successful breakout above this level may open the door for a move toward $74,000. On the downside, failure to hold the $66,000 support zone could expose Bitcoin to a deeper correction toward $64,000, where the next major demand area lies.
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