Bitcoin traders are eyeing two critical price levels this week: $61,000 and $67,000. According to market data, if the longer-term downtrend continues, the asset is more likely to first climb to take down overhead liquidation levels before plunging southward. That sets up a potential short squeeze in the near term, even as the broader bearish structure remains intact.
The $61K–$67K zone
The lower boundary at $61,000 has acted as resistance since late June. A break above that could trigger a cascade of liquidations on leveraged short positions, pushing BTC toward $67,000 — the next major liquidation cluster. Traders are watching these levels closely for any sign of momentum.
Why a move up first?
The logic is straightforward: overhead liquidity tends to act like a magnet for price. With a downtrend already in place, a quick rally into those zones would clear out weak shorts before the next leg lower. It's a pattern that's played out before — a dead cat bounce that catches late sellers off guard.
What comes after
If Bitcoin does spike to $67,000, the question becomes whether it can hold. The longer-term trend is still down, and without a fundamental catalyst, the move could be short-lived. A rejection at either level would likely confirm the downtrend and open the door to lower prices.
For now, the market waits. The next few sessions will tell whether the squeeze materializes — or fizzles out.
