65ktarget

Crypto fairy-tale observations:
If 65k becomes the exit everyone has in mind, then it’s hard for it to turn into an immediate takeoff point.
According to a July 16 report by CoinDesk, when BTC neared 65k, both long-term holders and short-term holders sold during the rebound.
This news matches today’s market action quite well.
Because it explains a question: why after BTC surged to around 65k, it didn’t continue upward.
To be precise: on-chain selling doesn’t mean everyone is running away, and it doesn’t mean the price will definitely keep falling.
But the market is best at imagining stories.
People who are losing have finally waited for a rebound—maybe they want to cut losses and leave a bit earlier. People who are in profit, seeing their gains, might also want to lock in profits for safety first. Even though the two groups are in totally different situations, they may end up doing the same thing in the same place: selling.