Bitcoin bulls remain confident despite BTC price hitting its lowest levels since March 6 in a brutal weekend sell-off.

Bitcoin lurched toward $60,000 on March 17 as selling persisted through the weekend.

“Constant spot selling” pressures BTC price action

Data from Cointelegraph Markets Pro and TradingView showed new BTC price lows of $64,522 on Bitstamp.

After hitting new all-time highs during the week, Bitcoin faced considerable sell-side pressure, with a series of lower lows accompanied by failed rebounds.

On the day, offloading continued to gather speed well in advance of the hotly-anticipated weekly candle close.

Analyzing the situation, popular trader Skew outlined zones of interest for bidders on major exchanges. These focused on between $60,000 and $64,000.

“Majority of the selling has been driven by takers (market selling),” part of a post on X explained.

“Constant spot selling since $74K especially from coinbase & binance.”

Skew added that some entities were engaging in large dollar-cost averaging (DCA) at the lows, helping provide the low-timeframe bounces.

Bitcoin’s latest bull market correction thus totaled around 12%. As Cointelegraph reported, previous cycles saw considerably deeper pullbacks while still preserving the broader uptrend.

Optimistic market observers thus remained positive, referencing the ongoing buying from the United States spot Bitcoin exchange-traded funds (ETFs) which would resume on March 18.

“Yes, this is Bear Trap,” Thomas Fahrer, CEO of crypto-focused reviews portal Apollo, which tracks ETF flows, responded on X.

Get to know Godleak

Godleak crypto signal is a  service which provide profitable crypto and forex signals. Godleak tried to provide you signals of best crypto channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Godleak crypto leak service have multiple advantages in comparision with other services:

•  Providing signal of +160 best crypto vip channels in the world
• Using high tech bot to forward signals
• Without even a second of delay
• Joining in +160 separated channels on telegram
• 1 month, 3 months , 6 months and yearly plans
• Also we have trial to test our services before you pay for anything

For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Godleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

“Waves of liquidity are going to rain down on the Bitcoin ETFs. Real money hasn’t even started allocating. If a 1B Hedge Fund position sent BTC tumbling 10%, how high do you think 150B from advisers is going to send it?”

Fahrer appeared to reflect rumors of a fresh institutional wealth allocation to BTC potentially arriving in the coming months.

Latest Bitcoin futures gap nears $4,000

With more than 12 hours left until the weekly close, meanwhile, others eyed the potential for an early-week comeback.

Countering the bearish streak could be a job for the gap in CME Group’s Bitcoin futures market, this rapidly widening amid the weekend’s drawdown.

CME futures closed on March 15 at $69,135, and the resulting “gap” between there and spot price could provide an impetus for relief — in line with historical precedent.