Short-term Bitcoin holders have sold more than $770 million worth of BTC at a loss amid renewed market pressure and growing expectations that Bitcoin could fall toward the $65,000 level.
Bitcoin dropped to around $76,500 on Monday, erasing most of its recent gains as rising geopolitical tensions between the US and Iran weakened broader crypto market sentiment. The decline has triggered increased caution among investors, with many recent buyers exiting positions at a loss.
On-chain data indicates that over 10,000 BTC were transferred to major exchanges, including Binance, by short-term holders investors who have held Bitcoin for less than 155 days suggesting panic-driven selling during the correction.
Analysts note that Bitcoin is now trading below key technical levels, including its short-term holder cost basis near $78,000. The rejection from the $82,000 zone and repeated failures around major moving averages have strengthened bearish momentum in the short term.
Market data also shows significant pressure from institutional flows, with Bitcoin-related investment products recording large outflows in recent sessions. Analysts warn that sustained selling could push the market toward a deeper correction.
Technical projections suggest that if Bitcoin fails to hold support between $74,000 and $76,000, the price could slide further toward the $65,000–$70,000 range. Some analysts describe this zone as a potential long-term accumulation area if selling pressure stabilizes.
Despite the downturn, long-term holder activity remains relatively strong, indicating that structural demand in the market has not fully weakened.
