Bitcoin trades near $67K after an 18% monthly slide, and the path back to $80K starts with holding support near $63K. Rising bond yields drove the latest drop, while a 2011 wallet's sale adds a separate source of worry.
Bitcoin changed hands near $67K on Friday, down about 1% in the past day. The coin has lost roughly 18% over 30 days, and about 11% of that came in the past week.
Yields set the tone for the latest leg down. A second report says Bitcoin slipped below $70,000, then broke under $69,000 and $67,000 the same day as bond yields climbed.
Two moving averages block the road to $80K
Bitcoin trades below its 50-day average near $78K and its 200-day average near $76K. Both lines now act as ceilings, and rallies tend to stall when they reach them.
Reaching $80K would require a gain of roughly 19% from current levels. The first test comes at resistance near $75K, where a daily close above that zone would be the first sign that buyers are taking control back.
Oversold readings do not yet signal a turn
The RSI sits near 23 on the daily chart, deep in oversold territory. Stretched readings like this often come before a short rebound, but in strong downtrends the RSI can stay pinned near the floor for days.
Other signals offer little comfort. The MACD remains below its signal line, which means momentum still points down.
Support near $63K decides the next move
Support sits near $63K, and buyers have defended that zone so far. A clean break would leave little in the way until the next support near $59K. Holding the support level is the first step in any recovery.
Bitcoin's own news matters less right now. The second report says the climb probably depends on bond markets more than on crypto itself.
A 2011 wallet empties inside a $260 billion lawsuit
A bitcoin address dormant since 2011 emptied its 75 BTC on Thursday evening, a transfer worth about $5 million. The wallet appears in a New York case that names 39,069 addresses and claims a $260 billion stake in about 3.8 million BTC.
The transfer shows someone still controls the keys, but it does not show who, or whether the lawsuit prompted it. If more of the named wallets start moving, however, fears over old supply could pile onto a market that sellers already control.
Sources: Crypto Daily™, Crypto Daily™
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