Bitcoin Defies Bearish Trend, but Support Remains Uncertain

The Bitcoin price has been holding up relatively well despite a recent bearish prediction. It is currently trading near $65,500 after briefly dipping to $64,600 intraday. This resilience is notable given the selling pressure across risk assets, with investors trimming exposure to growth and technology names.

Bitcoin's market value has contracted sharply, and it remains well below its cycle high of around $126,000. Margin-related selling has also added to the downward pressure as some traders liquidated BTC to meet collateral calls.

The weakness in major technology stocks has weighed on market sentiment, making institutional investors more cautious. As a result, cryptocurrency has struggled to attract fresh momentum despite Bitcoin's relative strength.