Bitcoin price may drop below $64K as veteran raises ‘campaign selling’ alarm

💡 DMK Insight

Bitcoin’s current price of $61,422 is under pressure as miners and US spot ETFs reduce their BTC holdings. This shift is significant because it indicates a potential increase in supply at a time when demand is uncertain. With the market already in a fragile downtrend, any additional selling pressure could push Bitcoin lower. Traders should keep an eye on miner sentiment and ETF flows, as these can be leading indicators of market direction. If BTC breaks below key support levels, it could trigger further selling, especially among retail traders who might panic. On the flip side, if Bitcoin manages to hold above $60,000, it could attract buyers looking for a bargain. Watch for volume spikes around these levels, as they could signal a reversal or continuation of the trend. Keeping an eye on broader market sentiment and economic indicators will also be crucial in the coming days.