Bitcoin's Dead MACD Signal: Bulls Must Crack $65,509 or Risk a Retracement

Bitcoin (BTC) is currently stuck at $65,005 in a technical standoff where momentum indicators have gone silent. The most telling signal right now is the dead MACD histogram with the MACD and signal line converged to identical values.

The short-term trend skeleton is intact and bullish, but price sits below its 200-day Simple Moving Average (SMA) at $70,295, which defines the medium-term reality. Bitcoin is structurally below its most important long-term trend line.

Smart money is leaning long, with top traders running a net long position of 54.5% at a 1.20 ratio against retail's slightly softer 52.7%. The funding rate at 0.0056% is nearly neutral, making this long skew durable.