Bitcoin (BTC) is facing renewed downside pressure, with prominent market analysts warning that the leading cryptocurrency may soon breach the critical $64,000 support level. This bearish outlook follows alerts from a seasoned market veteran regarding coordinated ‘campaign selling.’ Campaign selling, in this context, refers to systematic and strategically timed selling operations executed by large entities—such as high-volume miners or institutional whales—designed specifically to drive the price down and capitalize on subsequent panic or re-accumulation at lower valuations. BTC has struggled to maintain upward momentum since being rejected near $70,000 last week. The veteran analyst stresses that the current price action is not indicative of typical retail panic, but rather a calculated effort to liquidate holdings strategically. Technical indicators show robust support resting between $64,500 and $64,000. If this zone fails to hold amidst the sustained selling campaign, experts predict a swift decline toward the next major support floor near $62,000, potentially accelerating the move towards $60,000. Traders are urged to monitor volume closely, as a decisive break below $64K could signal further short-term pain for the asset.
Source: Bitcoin price may drop below $64K as veteran raises ‘campaign selling’ alarm
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