According to the latest volume profile data, Bitcoin price is holding above the Point of Control (POC) at $66,999.58, remaining within a concentrated trading range of $64,599.72 to $78,998.88. This range represents 50% of BTC's total trading volume over the past six months, highlighting intense market activity at these levels.
POC Role Shift: From Value Base to Psychological Support
The POC has transitioned from a foundational value area to a key psychological support level. As long as Bitcoin stays above the POC, the short-term bullish structure remains intact. However, a breakdown below the POC accompanied by rising volume would negate the bullish structure and potentially trigger a deeper correction.
Market Sentiment and Outlook
Both bulls and bears are actively battling within this core range. Institutional flows show a net outflow of $10.11 million for BTC and ETH in the last 24 hours, yet some whales have closed short positions and turned long. On the macro side, progress in U.S.-Iran peace talks has boosted risk appetite, turning Bitcoin sentiment bullish. Technicians suggest that if Bitcoin can sustain above the POC and break above the range high of $78,998.88 on rising volume, a new rally could begin. Conversely, losing the lower bound at $64,599.72 would expose lower supports.
Traders should monitor volume changes near the POC closely, as any breakout or breakdown with high volume will confirm the next directional move. For now, price action within the concentrated range indicates the market remains in a critical tug-of-war phase.