BTC price weakness is number one of the radar for Bitcoin traders once again after bulls fail to overcome $65,000.
Bitcoin
BTC
$62,403
faces a potential “liquidation cascade” toward $50,000, analysis warns as the BTC price rebound fizzles.
In his latest market commentary on X, popular trader Credible Crypto paints a grim short-term picture for Bitcoin bulls.
BTC price analysis warns "range lows" could return
BTC price action may be up by around 40% from its August swing low, but the market is struggling to hold on to its latest gains.
Data from Cointelegraph Markets Pro and TradingView shows BTC/USD circling 1% losses on Aug. 27, dipping from local highs of $65,100 on Bitstamp the day prior.
For market participants, the writing is already on the wall — buyers, some argue, are not in a suitable position to sustain the short-term uptrend.
“Binance wants blood,” Credible Crypto told X followers.
“Since our local top Coinbase spot takers have actually begun buying again but Binance spot takers are selling 2x as much. OI still quite high and lots of liquidity below.”
