Bitcoin’s price movement has again centered around the $66,000 to $67,000 range, pointing to ongoing indecision in the market. Despite a brief recovery from $65,500 after the New York open, BTC failed to sustain momentum, repeatedly returning to this narrow band. This repeated testing of the same support zone has drawn attention among analysts for its potential to signal weakening confidence among traders.
Analyst Columbus highlights liquidity imbalance
Columbus, an active crypto analyst known for insights shared on X (formerly Twitter), has published a technical analysis using the MMT heatmap, which visualizes areas of concentrated liquidity in Bitcoin markets. Columbus, who frequently evaluates liquidity flows, has pointed out that there is now a significant buildup of buy interest beneath the current price, compared to thinning sell orders above it.
The data reveals that the current support between $66,000 and $67,000 has been tested multiple times, gradually weakening the conviction of buyers holding this line. As Columbus emphasized, with each retest, the likelihood of a breakdown increases as market participants lose confidence in the zone’s strength. The heatmap also shows that the mid to low $60,000 levels serve as a “magnet,” drawing attention as the potential next destination should support finally give way.
Recent on-chain data supports this assessment, indicating that short-term holders are concentrated between $60,000 and $70,000. However, this cluster lacks the depth required to serve as a strong foundation for a sustained upward reversal, leaving the price vulnerable to further downside moves if current levels do not hold.
Resistance remains firm above current levels
While the heatmap suggests risk to the downside, resistance above the current range is equally pronounced. Efforts to push past $67,000 into the $69,000 area have consistently met with heavy selling pressure. Columbus highlighted that such attempts are “absorbed quickly,” and the market has repeatedly failed to generate any significant upward momentum past this cap. Rather than gradually breaking down resistance, these upward moves have faced immediate supply, reinforcing existing price ceilings.
This behavior has aligned with recent technical outlooks, which identified $69,000 as a major resistance zone and pointed to the $64,000 range as the next likely area for liquidity-driven market action. The pattern of short-lived price advances, followed by swift rejections, underlines a notable lack of buying strength at higher levels.
Columbus summed up the situation in a recent X post:
“The mid to low $60,000 range remains the magnet. Once current support breaks, the move to that zone could be rapid.”
At present, data from the heatmap does not suggest favorable conditions for a bullish breakout. The market structure appears set up for downside resolution unless there is a significant shift in sentiment or liquidity distribution.
