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Bitcoin struggles to hold $65K, facing selling pressure near $67.5K short-term cost basis

Technical Signals
08 Aug 2026
Crypto news
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Neutral
Bitcoin struggles to hold $65K, facing selling pressure near $67.5K short-term cost basis

Bitcoin price hovered near $65,000 but failed to sustain above this level, facing resistance from sellers around the $67,523 short-term holder cost basis. This cost basis represents the average price paid by holders of coins less than 155 days old, creating a potential selling zone as investors seek to break even. Technical indicators show mild bullish momentum, but Bitcoin remains below key long-term moving averages, signaling the broader downtrend is intact. The next price moves depend on whether Bitcoin can break above $65,600 to trigger a short squeeze or fall below $64,000 toward stronger support zones around $63,000. Investors should watch these levels closely as the market balances between competing liquidity pools.

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