Bitcoin Price Plunges Amid Institutional Sell-Offs

The recent decline in Bitcoin's price to $65,008.45 has raised concerns among investors and analysts. According to data from Coinbase, institutional sell-offs have led to a significant decrease in the price of Bitcoin.

The bearish trend is confirmed by technical indicators such as the EMA structure and oversold RSI on the 4-hour chart. The MACD death cross at -21,212.78 reinforces downside momentum, suggesting that any relief rally will likely stall at the upper band near $75,453.40 before testing lower support again.

Historical moves over the past six months show similar oversold RSI readings preceding sharp rebounds only after testing the 50-EMA confluence zone. Analysts warn of potential crypto market crash risks if volume accelerates through the lower band.