Bitcoin Slumps Under Selling Pressure as Key Support Zone Looms

The Bitcoin price is struggling to break above $65,000 due to renewed selling pressure. BTC currently trades near $64,200, and various on-chain and institutional data indicate weakening demand and increasing supply.

Exchange balances have risen, while miner reserves continue to decline. Bitcoin ETF flows have turned negative, suggesting weaker institutional demand. The Coinbase Premium remains below zero, indicating softer buying interest from U.S. investors.

Six indicators point to rising selling pressure: heavy supply near $61,000, $64,000, rising exchange balances, declining miner reserves, decreasing strategy holdings, negative ETF flows, and a negative Coinbase Premium.

Bitcoin is currently under pressure after failing to sustain its move toward the $66,000, $66,800 resistance zone. The market remains cautious, with repeated rejections from the upper boundary keeping the structure uncertain.