$BTC dropped 5% to $64.3K, liquidating $206M in longs in 24 hours.

$65K is the key level, $BTC has ranged between $65K–$70K for two weeks. A breakdown increases the probability of a move toward $60K.

Negative Coinbase Premium + high whale inflows suggest continued distribution.

Unless $70K is reclaimed, short-term pressure remains.