Key Highlights
- Bitcoin fell to around $67,800, down roughly 5% on the day, extending its pullback from the May recovery zone.
- The daily chart shows BTC losing the $69,800–$68,000 support band, shifting attention toward $64,100.
- A deeper breakdown below $64K could open the next major downside area near $59,700.
Bitcoin price slipped sharply on Tuesday, falling more than 5% to trade near $67,800 as sellers regained control of the daily chart. BTC is now testing one of its most important short-term areas after losing momentum near the $76,000–$80,000 range.
The move has pushed Bitcoin below the support zone around $69,800–$68,000, a level that had acted as a short-term base during the previous consolidation. The latest daily candle now shows clear downside pressure, with BTC trading close to the lower end of the session.
BTC Breaks Below Short-Term Support
The chart shows Bitcoin failing to hold above its recent rising structure after rejection near the $76,800 zone. That rejection has now turned into a deeper correction, with BTC sliding below the moving-average ribbon and losing the horizontal support area near $69,800.
This makes $67,000–$68,000 the immediate battleground. If buyers reclaim this zone quickly, BTC could attempt a recovery toward $69,800 and then $73,400. However, if the price stays below this area, the breakdown may confirm a bearish continuation.
The chart also shows Bitcoin trading below the Larsson Line, which is currently positioned near $75,660. With BTC near $67,800, the price is trading roughly 10% below the Larsson Line, showing that the short-term trend remains under pressure.
The Larsson Line had already started bending lower after Bitcoin failed near the $76,000–$80,000 area. As long as BTC stays below this line, rebounds may face resistance instead of confirming a clean trend reversal.
For bulls, reclaiming the $73,400–$75,600 zone becomes important because it would bring BTC back toward the Larsson Line. Until then, the indicator supports a cautious outlook, with $64,100 and $59,700 remaining the key downside levels to watch.
Daniel Reis-Faria, CEO of ZeroStack told The Crypto Times that, “Bitcoin falling to its lowest level since early April and ETF flows turning negative for the year shows investors are still taking a cautious approach to risk assets. The recent price weakness reflects a broader slowdown in demand, with many investors becoming more selective about where capital goes amid continued uncertainty in the market. When ETF inflows weaken and outflows accelerate, it often signals that institutions are taking a step back and waiting for more clarity before increasing exposure.”
$64K Becomes the Next Key Level
The next major support on the chart sits near $64,100. This level is important because it marks the lower part of the recent consolidation range. A clean daily close below it would weaken the market structure further and could expose Bitcoin to the next support near $59,700.
Below that, the chart shows deeper downside levels around $54,600 and $50,400, but those remain secondary unless BTC loses the $64K area with strong volume.
Upside Levels to Watch
For bulls, the first task is simple: Bitcoin needs to recover above $69,800. A move back above this level would reduce immediate downside pressure and bring $73,400 back into focus.
A stronger bullish reversal would require BTC to reclaim the $76,800 area, where the latest rejection began. Until that happens, the chart remains tilted toward caution.
Bitcoin Price Outlook
Bitcoin’s near-term trend has turned defensive after the latest 5% fall. The price action suggests that traders are now watching whether BTC can defend the $64K support zone or whether the current pullback turns into a deeper correction toward $59,700.
For now, the market structure remains weak below $69,800, and any rebound that fails near this zone could attract fresh selling pressure.
Also Read: Strive Spends $185M on Bitcoin in 10 Days, Total Holdings Hit 19,000 BTC
