Bitcoin Faces Renewed Selling Pressure as Price Risks Deeper Correction

Bitcoin is once again under heavy selling pressure after a sharp breakdown pushed the cryptocurrency well below key technical support levels, further damaging its overall market structure. Following a brief consolidation phase, BTC failed to maintain its rising support line and slid back toward the critical $70,000 area. This rejection has raised fresh concerns that another downward leg could be imminent, especially as bearish momentum continues to dominate the market.

The latest price drop was accompanied by elevated trading volume, a clear signal that sellers remain firmly in control. Any recovery attempts so far have been short-lived, suggesting a lack of strong buying interest at current levels. Compounding the weakness, Bitcoin is now trading below all major moving averages, which have flipped into dynamic resistance zones. As long as price remains under these indicators, the risk of additional downside remains high.

From a technical perspective, attention is increasingly shifting toward the $64,000 level, which stands out as the next major support area. Given the speed and intensity of recent declines, a rapid move toward this zone cannot be ruled out. Historically, when Bitcoin breaks important support levels, the market often experiences sharp cascading sell-offs driven by liquidations of leveraged positions and triggered stop-loss orders.

While some momentum indicators suggest Bitcoin may be approaching oversold conditions, this alone does not guarantee a quick rebound. In strong downtrends, oversold signals can persist as prices continue to fall. The key question for market participants is whether the current consolidation represents a temporary pause or the final phase before a deeper correction.

If Bitcoin fails to reclaim the $70,000–$72,000 range in the near term, many traders may continue to treat rallies as selling opportunities, increasing the likelihood of further declines. On the other hand, long-term investors could view the $64,000 region as a potential accumulation zone that may help slow bearish momentum. However, if that support fails to hold, Bitcoin could face a more aggressive and prolonged correction across the broader cryptocurrency market.