Bitcoin $BTC is coming under renewed pressure, slipping below the $66K level and trading around $65.5K after a sharp rejection from yesterday’s highs. The move reflects a clear shift in short-term sentiment, with sellers currently having the upper hand as the market tests a key support zone. What’s making this move more intense is the mix of institutional signals and narrative shocks. Record ETF outflows have added to the selling pressure, while even minor BTC sales from major holders have sparked stronger psychological reactions than expected. At the same time, technical analysts are warning that momentum has weakened significantly, with key indicators showing demand fading across the board. Still, the market isn’t one-sided. Large buyers continue to step in around these levels, and institutional activity hasn’t completely disappeared. For now, everything hinges on whether the $65K–$66K zone can hold because a clean break below it could open the door to deeper downside, while holding it could stabilize the market for a potential rebound.