Bitcoin is trading around $66,920 after a sharp intraday selloff that pushed price down from the $69,000 area toward $66,700 before a modest bounce.
Key Takeaways:
Bitcoin dropped from ~$69,000 to the $66,700 zone before stabilizing
Market sentiment remains in extreme fear
Ethereum and Solana are also trending lower
Short-term structure favors bears unless key resistance is reclaimed
The broader crypto market remains under pressure, with total market capitalization declining and sentiment sitting in extreme fear territory. Altcoins are following Bitcoin lower, reinforcing the risk-off tone across the market.
Bitcoin Faces Short-Term Bearish Structure
On the chart, BTC continues to print lower highs and lower lows, confirming a short-term downtrend. The breakdown below $68,000 accelerated selling pressure, with a spike in volume suggesting stop-loss cascades and short-term liquidations.
The Relative Strength Index is hovering in the low 40s, showing weak momentum but not yet deeply oversold conditions. The MACD remains below the zero line, indicating that bearish momentum is still dominant despite the small bounce.
Immediate support sits around $66,500. A break below that level could expose $65,800 and potentially the $64,500 region. On the upside, Bitcoin needs to reclaim $68,000 first, followed by $69,000, to invalidate the current short-term bearish structure.
Ethereum and Solana Under Pressure
Ethereum is trading near $1,955, down over the past 24 hours and showing similar technical weakness. ETH has struggled to hold above the psychological $2,000 level, and momentum indicators mirror Bitcoin’s soft structure. A loss of $1,900 could accelerate downside pressure, while bulls would need to reclaim $2,020–$2,050 to regain short-term control.
Solana is currently trading around $81.29, continuing its recent pullback. The asset has seen sharper percentage declines compared to Bitcoin, reflecting higher volatility typical for large-cap altcoins. Key support sits near $78, while resistance is building around $85. Failure to hold support could lead to an extended correction phase.
What to Expect Next
For now, the overall structure favors caution. Bitcoin remains the market driver, and until it stabilizes above key resistance levels, Ethereum and Solana are likely to follow its direction.
A strong bounce with increasing volume could trigger short-term relief rallies across majors. However, if Bitcoin breaks below $66,500, broader downside continuation becomes more likely.
Traders should watch volume, reclaim levels, and sentiment shifts closely – because in a market driven by fear, volatility can expand quickly in either direction.
