This move isn’t just a dip — it’s a clear shift in short-term control.
BTC lost the 69.7k MA(25) and is now trading below all key moving averages on 4H, with momentum accelerating on rising sell volume. The sharp rejection from 72k followed by a breakdown shows distribution, not just profit-taking.
The reaction around 65.7k is critical — if it fails to hold, liquidity likely sits lower where real demand hasn’t been tested yet.
Right now, this looks less like a pullback and more like a structure reset.
Watch how price behaves, not just where it is.