Bitcoin Falls Below $65,000 Psychological Support Amid Tariff Concerns
- Increased Price Volatility: Bitcoin's price dropped approximately 5% from Monday's high of $66,465 to an intraday low of $62,952, marking a 35% decline from its yearly peak, indicating investor concerns over new U.S. global tariffs.
- Significant Tariff Impact: The U.S. government plans to impose a 10% tariff on all nations, lower than the feared 15%, yet historical data shows that similar tariffs have led to severe volatility in the crypto market, with a 145% tariff on China in April 2025 causing a 20% drop in total crypto market cap within two months.
- Liquidation Surge: Following Bitcoin's drop below the $65,000 psychological support, over $218 million in leveraged long positions were liquidated in the past 12 hours, with total liquidations reaching approximately $369 million in 24 hours, of which Bitcoin accounted for nearly $152 million, reflecting extreme market pessimism.
- ETF Outflows: The 12 Bitcoin ETFs experienced $203.8 million in net outflows over the past day, primarily driven by BlackRock's IBIT, which saw $116.4 million in redemptions, further indicating a lack of investor confidence in Bitcoin.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 55190.327 | 58850.303 | 62668.877 | 66328.853 | 70147.427 | 73807.403 | 77625.977 |
| Fibonacci | 58850.303 | 61707.109 | 63472.047 | 66328.853 | 69185.659 | 70950.597 | 73807.403 |
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