🇺🇸 Whipsaw Above $63K — Relief Bounce or Setup for $58K?
Bitcoin snaps back above $66K after a brief breakdown, but on-chain weakness and liquidation asymmetry still argue that the real test lies lower.
🪙 Crypto Market Overview
Bitcoin briefly broke below $63,000 before snapping back above $66,000, helped by positive ETF inflows and a rebound in equities.
The move looks more like a classic whipsaw than a structural reclaim.
Short liquidations remain clustered near $67,000, and that zone likely needs to be cleared before the market meaningfully refocuses on the heavier downside stack near $58,000.
The recent bounce coincided with extreme fear readings and a deeply oversold weekly RSI — the lowest in Bitcoin’s history. Extreme momentum conditions can produce sharp reflex rallies, but they do not automatically confirm trend reversal.
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