Bitcoin Price Dives Below $65,000, Market Analysis Points to Multiple Factors

Bitcoin's recent price drop has sent shockwaves through the cryptocurrency markets. On April 10, 2025, Bitcoin (BTC) broke below the $65,000 psychological support level, marking a significant correction in the market.

The sudden downturn has triggered widespread analysis among traders and institutions, with many scrutinizing the trading volume accompanying the drop. Data from major exchanges like Coinbase and Kraken showed a 35% increase in sell-side volume over the preceding 24 hours, indicating high-volume breakdowns that carry more technical significance.

Several concurrent factors likely contributed to this downward pressure, including on-chain data showing a spike in exchange inflows, historical macroeconomic indicators affecting risk assets like Bitcoin, and options market data indicating increased put buying at the $65,000 strike.

Historically, drawdowns of 10-20% from local highs are common within bull market cycles. The 2021 cycle saw over a dozen similar corrections, making this drop below $65,000 not unprecedented from a historical perspective.