Bitcoin fell to $65,426, putting the market’s attention squarely on the $60,000 support zone. According to comments cited in the report from Andri Fauzan Adziima, the latest decline has been driven mainly by leveraged long liquidations, spot Bitcoin ETF outflows, and technical breakdowns, while headlines related to Iran have mainly added to fear rather than acting as the primary cause.
$65,000 Gives Way and Attention Turns to the Lower Range
Traders are now watching the lower boundary near $60,000, a level Bitcoin had previously visited this year. Veteran trader Peter Brandt said a broadening triangle is forming on the Bitcoin chart, a pattern often associated with wider price swings. In his view, Bitcoin could retreat to $56,000, while a sustained move above $75,000 would cancel that bearish setup.
The report also said buyers may step in between $65,000 and $60,000. Even so, any relief rally may still face continued selling pressure. Analysts added that a clearer sign of a market bottom would require Bitcoin to move back above $77,000.
Major Altcoins Stay Under Pressure as Ether Nears Key Support
The break in Bitcoin support triggered heavy liquidations across leveraged long positions. If $65,000 fails to hold, the next area in focus is $62,500 to $60,000. A close below that range could bring back the risk of a move toward $50,000.
Ether has dropped below the $1,916 to $2,465 channel and is approaching strong support at $1,750. The article noted that the RSI points to oversold conditions, which could allow a short bounce, but any rebound may still meet fresh selling. If $1,750 breaks, the next potential target is $1,550. BNB slipped under $687 and fell toward its 50-day moving average near $645; a move below $628 could open the way to $570.
XRP broke below support at $1.27, with the next major level at the intraday low of $1.11 set on February 6. Solana closed below $76, leaving $67 as a critical support level. Dogecoin moved back toward the lower edge of its $0.09 to $0.12 range, and if $0.09 fails, $0.08 could become the next area to watch.
HYPE, ZEC, and XLM Show Relative Resilience
While the broader market remained weak, Hyperliquid, Zcash (ZEC), and Stellar (XLM) showed stronger relative performance. The report said Hyperliquid, a decentralized derivatives platform, has recently drawn attention because of rising trading volume. Some investors are taking profits in HYPE near $75, yet the pullbacks have remained limited, suggesting that dips are being treated as buying opportunities. A break above $75 could shift focus to the $85 to $89 area, while $64 and $59.41 stand as support levels.
ZEC is trading above its 20-day exponential moving average, a sign that buying interest is returning at lower prices. A move above $690 could strengthen the current uptrend and point to $750 and $856. XLM rallied from $0.14 to $0.30 between May 23 and May 30 before entering a correction. If it holds the Fibonacci midpoint at $0.22, the token could retest $0.27 and $0.30; a drop below $0.20 would raise the risk of a short-term top.