After rejecting $72,000, Bitcoin found support near $65,000 — a level reinforced by significant long-term holder accumulation between $63,000 and $65,000. On-chain data suggests this area now represents a major defensive zone for bulls.

A decisive break below $65,000 could open the door toward $60,000, with further downside risk extending to $55,000 or even $52,500 if selling intensifies. As a result, the $58,000 to $65,000 range is increasingly viewed as the market’s last major line of defense before deeper correction territory comes into play.