Bitcoin sells off into weekly close as bulls face $86K BTC price reckoning

Bitcoin experienced a significant price reversal heading into the weekly close, confirming a strong sell-off that erased mid-week gains and renewed volatility in the digital asset market. The downturn underscores the increasing difficulty bulls face in maintaining momentum, especially following repeated attempts to breach the high $71,000 resistance zone.

While the market continues to eye the $86,000 target based on key Fibonacci extensions and structural analysis, the immediate rejection demonstrates temporary buyer exhaustion. The sell-off saw BTC briefly dip below the critical $68,000 support level, putting pressure on leverage traders and leading to notable liquidation events across derivative exchanges.

Technical analysts are now focusing on the $67,000 zone, which acted as a major consolidation point earlier in the month. A failure to quickly reclaim and stabilize above this level could signal a deeper correction, potentially pushing Bitcoin back toward the psychological support cluster around $64,000. The bearish movement is partially attributed to caution ahead of upcoming U.S. macro economic data and a normalization of inflows into the spot Bitcoin ETFs, which have slowed compared to previous weeks. Market participants are now awaiting a definitive bounce to confirm that the broader upward trajectory remains intact.

Source: Bitcoin sells off into weekly close as bulls face $86K BTC price reckoning