Bitcoin Holds Near $66,000 as Traders Eye $68,000 Breakout Level

Bitcoin is trading around $66,000 following a sharp selloff, with the price remaining below the 100-day and 200-day moving averages and confined within a broader downward channel that has turned the prior $75,000–$80,000 support into a key supply zone. The daily chart shows a nearby demand area around $60,000, followed by a larger support region between $50,000 and $53,000, while the RSI has bounced from oversold conditions but has yet to show strength typical of a new uptrend. On the 4-hour chart, the market is consolidating in a symmetrical triangle, with an upside trigger near $68,000 that could open a move toward $73,000, whereas a downside break would likely retest $62,000 and then $60,000. Derivatives data show open interest has fallen sharply to about $20.4 billion alongside the price drop, and if open interest later rebuilds while Bitcoin holds above $62,500 and pushes through $68,000, it would indicate traders are re-entering, but renewed leverage under $68,000 could instead precede another wave of liquidations.