Bitcoin Fails to Break Through $65K Barrier Again
Bitcoin's latest attempt to break through the $65,000 barrier has been met with rejection, leaving traders focused on the next support test. A Paxos-linked wallet sold another 800 BTC worth around $50.72M through Wintermute, extending a pattern of steady distribution rather than a single large liquidation.
The same wallet has now sold 2,500 BTC over roughly two months, with combined transactions valued near $154M. Bitcoin remains around $63,500 after the latest sale, down about 0.6% over 24 hours and still below the $65,000 area that has repeatedly stopped rallies this month.
Crypto analyst Ted Pillows stated that Bitcoin's momentum is 'fading' after another failure to hold above $65,000, despite gains in stocks and metals. He identified the immediate support area as $62,000-$62,500, while a deeper decline could bring the $60,500-$61,000 zone into play.