Bitcoin has shown a sharp decline in the market, and this trend remains bearish (downward) for now. According to the Binance BTC/USDT chart, Bitcoin's current price is hovering around $65,000, reflecting a -7.97% drop over the past 24 hours. The 24-hour high reached $71,978, while the low touched $60,000, forming a large red candle that highlights heavy selling pressure.
On the chart, several moving averages (MA7 ~$73,000, MA25 ~$85,000, MA99 ~$90,000+) are positioned above the current price and sloping downward — this clearly confirms a bearish trend. The price has broken below multiple key levels and is now testing the important psychological support at $60,000. If this support fails, further downside is possible (potentially toward $58,000 or lower). Downside volume has also spiked, underscoring the strength of the selling.
Recent performance has been heavily negative:
Today: -1.60%
7 days: -21.79%
30 days: -29%
90 days: -36%
180 days: -44%
All these factors indicate that Bitcoin is in a strong downtrend, with no higher highs or higher lows forming — instead, lower lows are appearing. Immediate resistance lies around $66,000–$70,000, but bulls remain weak, and no clear bullish reversal signal (such as a strong green candle or upward MA crossover) is visible yet.
In the short term (next few days to 1–2 weeks), the market is more likely to continue falling, as bearish momentum dominates and a break below $60,000 could accelerate selling. In the medium term, the correction or bearish phase may persist, especially following the drop from the October 2025 highs (around $126,000+).
Key trending points:
Price remains below all major moving averages
High volatility with a spike in downside volume
Bearish trend line remains intact
$60,000 support is critical — holding could lead to a bounce, but a break may trigger deeper declines
This analysis is based solely on the chart and current data — the crypto market is highly volatile and can reverse quickly due to news, macroeconomic events, or sudden buying. Always conduct your own research and manage risk (stop-losses are essential) before trading.
