A few times, I’ve made the mistake of looking at Bitcoin only after a big move.
Price goes up, everyone starts talking about the next target, and it becomes very easy to ignore what’s happening underneath the chart.
That’s why BTC around $64K caught my attention today.
The first thing I’m watching is the $68K–$70K zone. If Bitcoin can reclaim that area with real strength, the current recovery starts looking more convincing. But below, $61K is still important. Losing that level could bring $57K, $53K and potentially lower levels back into focus.
What makes this setup more interesting is the leverage.
Around $113M in Bitcoin short positions were liquidated over 24 hours, while total crypto liquidations crossed $160M. I’ve learned that these liquidation numbers can make a move look stronger than it actually is. Forced buying can push price higher quickly, but it doesn't automatically mean the underlying demand has changed.
There’s another signal I wouldn’t ignore either.
Spot ETPs saw net outflows through parts of late May and June, while options showed increasing demand for downside protection. So even with BTC near $64K, the market isn't exactly behaving like everyone is comfortable with the upside.
Then there are the longer-term issues: low miner signaling around BIP-110 and the growing conversation around quantum threats to Bitcoin’s cryptography.
For me, that makes the current market less about predicting the next candle and more about watching whether Bitcoin can build genuine strength without relying too heavily on leverage.
$64K is interesting.
But the reaction around $70K may tell us much more.
What are you watching more closely right now: the $70K breakout or the $61K support?
$BTC #BTC
Price goes up, everyone starts talking about the next target, and it becomes very easy to ignore what’s happening underneath the chart.
That’s why BTC around $64K caught my attention today.
The first thing I’m watching is the $68K–$70K zone. If Bitcoin can reclaim that area with real strength, the current recovery starts looking more convincing. But below, $61K is still important. Losing that level could bring $57K, $53K and potentially lower levels back into focus.
What makes this setup more interesting is the leverage.
Around $113M in Bitcoin short positions were liquidated over 24 hours, while total crypto liquidations crossed $160M. I’ve learned that these liquidation numbers can make a move look stronger than it actually is. Forced buying can push price higher quickly, but it doesn't automatically mean the underlying demand has changed.
There’s another signal I wouldn’t ignore either.
Spot ETPs saw net outflows through parts of late May and June, while options showed increasing demand for downside protection. So even with BTC near $64K, the market isn't exactly behaving like everyone is comfortable with the upside.
Then there are the longer-term issues: low miner signaling around BIP-110 and the growing conversation around quantum threats to Bitcoin’s cryptography.
For me, that makes the current market less about predicting the next candle and more about watching whether Bitcoin can build genuine strength without relying too heavily on leverage.
$64K is interesting.
But the reaction around $70K may tell us much more.
What are you watching more closely right now: the $70K breakout or the $61K support?
$BTC #BTC