Bitcoin slips below $64K as selling intensifies
A report from Cointelegraph says Bitcoin has fallen 13% over four days, sliding to $63,844 from $79,300 and trading below the 2021 cycle high near $69,000. Futures open interest matched the sell-off, falling by more than $10 billion over the past seven days. Analysts highlight a key demand zone between $58,000 and $69,000 supported by heavy transaction volume and the 200-week moving average near $58,000, while order books show large bids between $68,000 and $65,000.
Prior cycle tops have sometimes acted as support, but prices can fall below previous highs before forming a final bottom, leaving downside risk open. Technical and onchain indicators point to oversold conditions: weekly RSI has dropped below 30 — a level that previously preceded short-term rallies — and adjusted net unrealized profit/loss (aNUPL) has turned negative for the first time since 2023, putting the average holder at a loss.