Bitcoin's Price Stabilization: A Turning Point Ahead

Bitcoin's recent price action has been marked by a stabilization attempt after a significant decline earlier this month. Despite the brief dip towards $60K, the cryptocurrency has regained some ground, trading at around $65,600 with a 2.4% increase over the past 24 hours.

The current trend still shows lower highs and lower lows, indicating that bulls have not yet reclaimed structural resistance. The real test for Bitcoin lies ahead near the $70K-$72K supply zone, where a decisive move is required to define direction.

Technical indicators suggest that forced liquidation has already occurred, but stabilization does not necessarily mean reversal. Derivatives positioning has cooled down, and funding rates are hovering near neutral to slightly positive, reducing the risk of an immediate squeeze.