Short-Term Holders Yanking BTC? Analyst Says $63K Could Be Bitcoin's Next Stop on the Liquidity Train

Crypto trader KillaXBT has slid into X with a take that might make your stomach do a backflip: Bitcoin could be taking a nostalgic cruise back to the $63,000 zip code. Because nothing says "bull market" like a scenic route to lower support levels.

The analysis, dropped on April 4th, leans heavily on the liquidity dynamics that have been pulling BTC's strings like a bored puppeteer over the past few weeks. KillaXBT dissected Bitcoin's technical structure on the weekly chart, pointing out support and resistance levels that have traders either stress-sweating through their hoodies or licking their chops for a dip.

About four weeks ago, Bitcoin swept those external range highs like a guest who overstays their welcome, triggering a swift reversal that closed the weekly candle in bearish territory. From there, BTC did what any self-respecting cryptocurrency does when it needs pocket change—it went liquidity hunting, pushing back up to around $71,500 to snack on those late short positions before flipping bearish again. Pure, textbook liquidity hunt choreography, per KillaXBT.

This current week decided to crash the party with another liquidity sweep and rebalancing event, followed by yet another downward rejection. Here's where it gets spicy: with Bitcoin's recovery riding almost entirely on leveraged positions and the market structure looking deader than a doornail, available buy pressure might be running on fumes. That puts the $64,900 lows squarely in the crosshairs for another sweep.

Looking mid-term, KillaXBT sees Bitcoin potentially crashing through those external range lows at $63,000 like it's Black Friday. On the bright side, there's hope for an immediate reversal back toward $72,800—just don't hold your breath, because another selloff lurks in the shadows ready to ruin the party.

Meanwhile, on-chain analyst Joao Wedson flagged that short-term holders (anyone who's been HODLing BTC for less than 155 days) are increasingly dumping their bags like they're trying to escape a burning building. The Short-term Holder Net Position Change metric is screaming this sentiment shift louder than a Bitcoin maximalist at a altcoin conference, and when this crowd starts panic-selling, Bitcoin