Bitcoin is holding a key support zone after a sharp drop, which is mildly good for buyers but still weak for anyone expecting a quick rally.

• The US government moved billions of dollars of Bitcoin on-chain to Coinbase, including one transfer of 12,200 BTC worth about a billion dollars.
• Whether or not it actually sold, the size of the move spooked traders and likely added to the drop.
• Bitcoin ETFs saw another day of money flowing out, adding more selling pressure.
• Big buyers are stacking orders in the mid-to-high $70,000s, which should cushion any further fall.
• Ethereum, XRP, Solana and Chainlink all bounced off their own support levels at the same time.

Outlook: Expect a small bounce or choppy sideways action for a few days, with weakness likely sticking around for another week or two before any real recovery.

## Bitcoin Levels

• **Bias:** Neutral to bearish short term, bullish long term (weekly bullish divergence still active since the low $60Ks).
• **Buy / accumulate:** $80,000-$82,000 support; larger buy interest $75,000-$80,000.
• **Support:** $80,000-$82,000 (strong); downside liquidity at $82.4K already taken out.
• **Resistance:** $86,000-$88,000.
• **Targets:** Range-bound $80,000-$88,000 for now; no breakout above $88,000 expected near term.
• **Invalidation:** A confirmed invalidation of the daily/3-day bearish divergence would flip the short-term outlook bullish.