Bitcoin Stalls at $65K Amid Short-Term Holder Selling Risk

Bitcoin's price has been hovering around $65,000 for several days, but its inability to reclaim this level has left its recovery vulnerable to selling pressure.

According to data from crypto.news, Bitcoin ($BTC) was trading near $65,015 on August 8 after repeatedly testing the $65,000 area. The price had recovered from a low of $62,200 on August 2 but still faced resistance from sellers in this zone.

Analyst Ted Pillows noted that Bitcoin had failed to establish a firm hold above $65,000 and warned that sellers were still active in this area, requiring the price to reclaim it for stronger upside.