The Technical Verdict of Bitcoin: Does the Support Hold or Will the $65,500 Fall?

The 58.6% correlation with the S&P 500 has delivered a clear verdict in the cryptocurrency market. Bitcoin is now at $65.53K, down 3.35% in 24 hours, reflecting how global economic fluctuations have directly impacted the liquidity of digital assets. This synchronization between traditional markets and crypto presents a critical scenario where the next moves will determine the direction of portfolios in the coming days.

The Chart’s Verdict: Compression Pattern and Critical Resistances

The technical outlook reveals a situation demanding immediate attention. Bitcoin appears trapped in a bearish compression pattern, where every recovery attempt faces determined sellers setting increasingly lower highs. Key analysis points show sustained pressure: sellers dominate the technical narrative.

The chart’s verdict is unequivocal: we are in a critical decision zone. The $67,500 level is our main defense; if this line breaks, the next significant support is at $64,300. Beyond that, a technical gap opens toward much lower targets, potentially reaching $58,000 if selling pressure intensifies without institutional buyers stepping in.

Trump Tariffs: The Macro Market’s Verdict for Cryptos

The announcement of a 15% tariff has signaled a shift in global risk perception. When trade policies tighten, investors seek refuge in defensive assets, abandoning higher-risk positions. Cryptocurrencies, being high-risk assets, are directly affected by this capital rotation.

This macro movement explains the synchronization with the S&P 500. The economic verdict is clear: funds exiting tech stocks are also pulling out of Bitcoin. It’s not a blockchain-specific issue but a risk aversion affecting multiple markets simultaneously.

Liquidity and Capitulation: The Traders’ Verdict

Behind the numbers lies a deeper dynamic: the clearing of fragile positions. Leverage in the market has fallen 28%, meaning traders using borrowed money with high risk ratios were forced to close their positions. This market verdict led to accelerated liquidations, amplifying the downward pressure.

Meanwhile, the Altcoin Season index plummeted nearly 20%, indicating that capital isn’t just leaving the market but migrating to the safest asset within the crypto universe: Bitcoin. It’s a defensive rotation where investors shift from speculative coins to the largest, most liquid asset.

Critical Levels and Scenarios: The Technical Verdict for the Coming Days

The Relative Strength Index (RSI) provides an important clue: Bitcoin shows signs of exhaustion in its decline, but without positive catalysts, there isn’t enough fuel for a sustained rebound. The technical verdict indicates we need a positive event to reverse the current trend.

Tomorrow’s Monday is crucial: US PCE inflation data will determine whether selling pressure continues or if markets find a solid base. If the number exceeds expectations, the verdict will be intensified selling. If it surprises to the downside, we could see a technical recovery from these levels.

The $67,500 level remains our critical line. Its breach would activate the bearish scenario projected in the chart analysis. Bitcoin faces a market verdict where price action in the coming days will decide whether we’re dealing with a short-term correction or the start of a more prolonged downtrend. Next week will be decisive for Bitcoin’s technical and fundamental narrative.