Bitcoin price rebounded to about $65,475 after trading near the $62,525 support level. Earlier, the price breached a triangle pattern to the downside, raising concerns about further declines. Despite the bounce, macro bearish signals remain dominant, and the immediate downside momentum has cooled only modestly. A break above $67,394 would invalidate the triangle pattern and may signal improved near-term momentum.
On-chain data show meaningful shifts in Bitcoin’s supply distribution among large holders, with addresses holding 1,000 to 10,000 BTC reducing their share from 21.7% to 21.2% over the past 12 days, a move representing roughly 90,000 BTC worth about $5.8 billion. The pace of selling appears gradual, but continued dispersion among large holders could weigh on price stability. The realized loss ratio (90-day SMA) has fallen below 1, signaling more losses realized than gains.
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