Hodlers have ‘given up’ at $65K: Five things to know in Bitcoin this week

💡 DMK Insight

Bitcoin’s price drop to $66,217 is raising alarms—here’s why you should care: With sentiment at its most bearish, traders are eyeing potential macro lows. This isn’t just about Bitcoin; it could signal broader market weakness, especially in altcoins that often follow BTC’s lead. If we break below key support levels, say around $65,000, we could see a cascade effect, triggering stop-loss orders and further selling pressure. Watch for volume spikes as they could indicate whether this bearish trend is gaining momentum or if a reversal is on the horizon. But here’s the flip side: extreme bearish sentiment can sometimes set the stage for a short squeeze. If Bitcoin manages to hold above $66,000 and shows signs of recovery, it could attract buyers looking for a bargain. Keep an eye on the daily RSI; if it dips below 30, it might signal oversold conditions, presenting a potential buying opportunity. The next few days will be crucial—monitor price action closely.