Overview
- Bitcoin fell to the lower end of its recent range near $66,000 and is on track for a fifth straight weekly decline if support fails.
- Traders are watching $66,000–$65,650 as the key floor, with a break opening downside targets around $63,000 and potentially $60,000.
- Near-term resistance sits around $69,600–$70,700, and technicians say a sustained move above $71,800 is needed to improve structure.
- U.S. demand signals remain weak as the Coinbase Premium stays negative, spot ETFs have shed over $8 billion since October, and futures open interest has dropped to about $44 billion.
- On-chain data show whales added roughly 200,000 BTC in a month and Strategy bought 2,486 BTC to reach more than 717,000 BTC, even as short‑term holders sit underwater and long‑term holder SOPR slipped below 1.