Bitcoin’s recent sell-off appears to be losing momentum as signs of institutional buying begin to surface across the market. After weeks of sustained downside pressure, selling intensity has moderated, and price action is showing early signs of stabilisation near key support levels.
The RSI is hovering around 32–34, still in bearish territory and only marginally recovering from oversold conditions. Besides, MACD remains deeply negative, with the histogram expanding to the downside, indicating that downside momentum has slowed but has not yet reversed. This suggests that while whale accumulation may have helped establish a temporary price floor near $60K, it has not yet translated into sustained upside momentum.
Key Levels to Watch Next
For accumulation to meaningfully impact price action, Bitcoin needs to reclaim higher technical levels:
- Immediate resistance: $74,500–$75,000- A daily close above this zone would signal improving short-term structure and confirm that buyers are gaining control.
- Bullish confirmation zone: $79,000–$80,000- A move into this range would indicate that the recent sell-off was corrective rather than the start of a deeper downtrend.
- Downside risk: Failure to hold $69,000 increases the risk of a retest of the $60,000–$62,000 demand zone, where the strongest buying response was last seen.
Conclusion: What Traders Need to Watch?
Whale accumulation appears to be absorbing downside pressure, but Bitcoin’s price action still points to consolidation rather than a confirmed reversal. After rebounding from the $60,000–$62,000 zone, BTC is holding near $69,000, suggesting sellers have slowed but buyers have yet to take control.
As long as the Bitcoin (BTC) price remains below $74,500, upside moves are likely to stay corrective. A break above this level would improve the outlook and open room toward $79,000–$80,000, while a loss of $69,000 would put the $60,000–$62,000support area back in focus.
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