Bitcoin Price Slips Toward $62K Support Amid Rising Selling Pressure

Bitcoin's price slipped toward $62,000 support on Friday, August 14, as selling pressure increased. The cryptocurrency traded near $62,831 after reaching an intraday low of $62,648.

The decline raised concerns that a break below $60,000 could expose Bitcoin to sub-$57,000 levels. Market indicators showed conflicting positioning between exchange activity and larger wallet accumulation, leaving traders focused on the $62,000 area and the broader $60,000 floor.

CryptoQuant analysis revealed that whale-supply reversal occurred on June 14, with wallets holding at least 100 BTC shifting back toward accumulation. However, separate analysis showed stronger whale activity below $60,000 during the selloff in June.