Bitcoin Defends Critical Support Amid Volatility
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Bitcoin experienced significant volatility over the past 48 hours, testing support levels in the low $63,000 range before rebounding toward $65,000. The price action, which spanned from approximately $62,800 to $66,200, reflects a market that encountered thin liquidity and downward pressure but found buyers at key technical levels. This bounce suggests that the $65,000 zone represents a critical battleground for market sentiment.
While the recovery indicates potential stabilization, market participants remain cautious as evidenced by increased hedging activity. The ability of bulls to maintain support above $65,000 could signal a local bottom, but continued volatility and defensive positioning suggest uncertainty persists. Traders should monitor order book depth and institutional flows for confirmation of sustained momentum.
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