Bitcoin Price News: BTC Could Drop to $65,000 If This Happens

Bitcoin (BTC) has dropped by 6% in the past 7 days and could drop to $65,000 in the next few days if it loses a key trend line support this week.

Volumes remain quite thin, indicating the absence of buyers at these levels. It also reflects that the selling pressure could be a mere profit-taking move.

However, sentiment remains quite volatile. Paired with low volumes, sellers could trigger a cascade of liquidations if they manage to push BTC below the $70,000 threshold.

BTC ETFs Book $3 Billion in Net Outflows in 10 Days

Net inflows to Bitcoin-linked exchange-traded funds (ETFs) have been negative for 10 days in a row.

In total, nearly $3 billion has flowed out of these vehicles during this period, indicating that investors’ sentiment toward the crypto market has turned bearish.

Similarly, the Fear and Greed Index dipped to 33, meaning that investors are once again in Fear amid the latest drop.

This is a data-heavy week in the United States, and we could expect some interesting price action now that BTC is tagging this key trend line support.

The most critical data will come in on Friday, as the U.S. Bureau of Labor Statistics will release jobs data covering May 2026.

The market expects that the unemployment rate will remain unchanged at 4.3%, while the number of new jobs is expected to decline to 96,000, down from a previous reading of 115,000 in April.

A Retest of This Cycle’s Low at $60,000 is Still Expected

Heading to the charts, our baseline scenario is that the price will retest the cycle’s lows as it has in the past. However, based on what we are seeing in the latest price action and on-chain metrics, we expect this to be the beginning of BTC’s next bull market.

BTC/USD Weekly Chart – Source: TradingView

The last two out of three times that the Relative Strength Index (RSI) in the weekly chart has dipped below 30, BTC has begun a rally toward a new all-time high.

Only in one instance the price did dip below its previous low. Hence, this setup offers a 66% win rate. Right now, the cycle’s low would be $60,000. The price will likely revisit that demand zone, or it will at least get near it.

Even if BTC dips below this mark, we still hold a bullish target of around $200,000 for BTC over the next 6 to 18 months based on the average gains that this signal has yielded in the past.

Moving to the daily chart, the current setup offers a clear entry if BTC’s trend line support holds. Our target in the near term, in case of a strong bounce, would be $85,000.

The RSI remains on a clear downtrend and has not yet entered oversold territory, which increases the risk of a much stronger pullback. We would prefer to wait for a break below the trend line and a bear trap at $70,000.

If volumes confirm that buying pressure is rising at this psychological threshold, that could provide a confirmed entry. This trade offers a 3x risk-reward ratio if the target is set at $85,000 and the stop price at around $65,000.