The Bitcoin price climbed above $70,000 yesterday, just a day after crashing to as low as $60,000. Amid this BTC rebound, experts continue to share their opinions about whether the bottom is in or if there is likely to be another Bitcoin crash. Meanwhile, the ‘Trump insider whale’ is dumping his BTC holdings, a move which could further put selling pressure on the leading crypto.
Will Bitcoin Crash as the Fear Index Hits June 2022 Lows?
Market sentiment remained weak despite Bitcoin’s bounce attempt. The Crypto Fear & Greed Index dropped to 6, its lowest reading since June 2022. That reading indicates extreme fear across the crypto market.
Meanwhile, analyst Ted highlighted a key technical level for Bitcoin’s short-term direction. As per analyst Ted, BTC attempted to reclaim $70,000 but failed. He added that Bitcoin needs to reclaim $70,000 for another 8% to 10% move higher. However, he warned that failure could push BTC back toward this week’s low near $60k.
As per trader James Wynn, Bitcoin is now on its fifth straight red monthly candle, which has never happened before. He said the market has three weeks left to see if the month closes green. Wynn noted he profited heavily from shorting at $120,000 but now says he has turned bullish near $68,000. He also said sentiment has flipped even though, in his words, “nothing has changed, just price.”
Meanwhile, Jeff Parker, CIO at ProCap, said the recent violent Bitcoin sell-off is likely tied closely to Bitcoin ETFs and broader capital market stress. Parker said the next few days will show whether buyers step in and support Bitcoin demand. BitMEX co-founder Arthur Hayes had echoed a similar sentiment earlier in the day, blaming trading activity around BlackRock’s IBIT for the crash earlier this week.
RSI and MACD Show BTC is Bearish
Bitcoin’s price structure still shows a strong downtrend. BTC continued posting lower highs and lower lows since the late-2025 peak near $100,000. Notably, the recent sell-off pushed Bitcoin from the $90,000 to $85,000 range down to around $63,000. Meanwhile, the prior $75,000 to $80,000 support zone shifted into resistance.
Source: TradingView
Technical indicators also show weakness. RSI is near 31.57, while the signal line is near 31.65, keeping BTC in oversold territory. MACD readings also are deeply bearish, with MACD near -5,640.93 and the signal line near -3,843.60. The histogram is near -1,797, indicating sustained negative momentum. A sustainable trend reversal would require a strong bullish close above key resistance with improving RSI and MACD convergence.
‘Trump Insider’ Whale Garrett Jin Moves 6,599 BTC to Binance
Garrett Jin has transferred 6,599 BTC worth roughly $463 million in total value today. As per Lookonchain data, Jin deposited 5,000 BTC, valued near $351 million, into Binance shortly after an earlier 1,599 BTC deposit worth about $112 million.
These transfers come only five days after Jin faced a full liquidation totaling $250 million after Bitcoin crashed. The transfers to the top crypto exchange came as Bitcoin attempted to stabilize after sharp losses.
It is worth mentioning that Jin was the whale that opened large short positions on Bitcoin about 30 minutes before Donald Trump announced a proposed 100% tariff on China. After Trump’s tariff announcement, the crypto market dropped sharply, triggering over $19 billion in liquidations.
Meanwhile, Whale Alert reported additional major transactions involving Bitcoin. One transfer moved 799 BTC, worth about $56.1 million, from an unknown wallet to Binance. Another transaction shifted 3,401 BTC, valued near $237.5 million, between two unknown wallets.