Bitcoin Price Drops Below $64K Amid High Volatility and Bearish Sentiment

The cryptocurrency market has experienced significant fluctuations, leading to a sharp decline in the price of Bitcoin. This drop has sparked concern among investors, particularly since it broke through a previously considered strong psychological support level.

According to technical analysts, the breakout of this level is a strong indication of bearish sentiment for Bitcoin's short-term price movement. The current market conditions show an increase in distribution volume from large holders compared to buying interest from retail investors.

The global macroeconomic sentiment tends to avoid high-risk assets amid interest rate uncertainty, which affects crypto movements. If Bitcoin fails to return above the IDR 1,077,056,000 ($64,000) level soon, the market structure could turn more negative for traders.