Bitcoin (BTC to PKR) remained stuck near $66,000 as more than $200 million in crypto liquidations and continued institutional outflows pushed sentiment into extreme bearish territory. Analysts warn that without a strong rebound, BTC may test lower support levels in the coming days.
Bitcoin traded around $66,635 (≈ PKR 18.6–18.8 million) after sliding toward $65,620 intraday. Despite relatively narrow price movement, liquidation data showed over $210 million wiped out across crypto markets within 24 hours, highlighting fragile positioning among leveraged traders.
Analysts say the pattern of lower highs and weak rebounds signals fading bullish momentum.
“Not a strong bounce, and constant lower highs,” trader Michaël van de Poppe noted, adding that Bitcoin may “test lower” to find support.
Market heatmaps show dense liquidation zones between $68K–$71K, roughly three times larger than liquidity below $64K–$66K. This suggests BTC could briefly move upward to clear short positions before any decisive breakdown or trend move.
“Bulls really need to respond soon,” trading community Wealth Capital warned.
For now, the $66K area has acted as short-term support for two weeks, while $71K continues capping price action.
Institutional data shows crypto funds recorded $173 million in weekly outflows, marking four consecutive weeks of withdrawals and nearly $3.7 billion exiting over the past month. Bitcoin-focused products led the selling, reflecting reduced institutional appetite amid macro uncertainty.
Market commentators describe sentiment across digital assets as reaching “extreme bearish levels,” historically seen near deeper corrections or late-stage consolidations.
If support near $66K fails, analysts expect Bitcoin to revisit the $64K–$60K zone, with deeper macro support near prior cycle cost-basis levels. A recovery above $70K–$71K remains the key trigger needed to restore bullish momentum in BTC to PKR terms.
