Bitcoin remains under pressure below the $65,000 resistance level, with multiple technical and on-chain signals pointing to a potential sweep toward $61,000 before any sustained rebound. BTC is trading around $63,500, down about 0.6% on the day, and has failed to clear the $65,000 ceiling that has capped rally attempts.
Trader Kaz’s liquidity heatmap shows a notable concentration of resting orders beneath the current range, with $62,200 emerging as the key downside level. Clusters of equal lows can attract price because stop-loss orders and other liquidity accumulate underneath them. Kaz sees a possible sweep of $62,200 as the next significant downside event, followed by a move toward $61,000, which he identifies as a higher-time-frame long point of interest and a major liquidity zone. A rebound toward the $65,000 order-block area could occur first, but a rejection there would keep the bearish setup intact.
Analyst Ted Pillows also highlights fading momentum on the daily chart, with the MACD flattened near its center line and the histogram slightly negative. He notes Bitcoin is lagging stocks and metals, and if BTC remains below $65,000, a pullback toward $60,500–$61,000 is likely. The area could become an important zone for buyers attempting to establish a reversal.
On-chain data adds to the downside pressure. A wallet tied to Paxos offloaded another 800 BTC, worth roughly $50.72 million, through Wintermute, according to Lookonchain. The same entity has now sold 2,500 BTC over two months, totaling approximately $154 million, and is not completely out yet. Ted Pillows also pointed to ETF selling as another factor removing buying demand, with key support at $62,000–$62,500 potentially retested next.
CoinLore places immediate support at $62,238 and resistance at $65,059, with a tight 24-hour expected range of $62,388–$64,832. A reclaim above $65,059 could flip sentiment and open a run toward the low $70,000s, while a break below $62,238 would confirm the bearish thesis and send price toward $60,500–$61,000. For now, the heavier liquidity below current price keeps the $61,000–$62,200 region as the main downside zone to watch.
