Woofun AI analysis suggests that Bitcoin's failure to hold the $65,000 mark has significantly weakened market sentiment, confirming a bearish technical structure. The daily close below this key support area, which previously served as a robust buyer defense zone, has shifted momentum toward sellers. This breakdown follows a pattern of lower highs and lower lows since springtime peaks, indicating a broader corrective phase. While a relief bounce remains possible, former support levels are now likely to act as resistance, keeping the outlook prudent.Trading activity intensified as prices fluctuated between $64,700 and $66,000, with daily volume rising over 25% to approximately $31.43 billion. Heavy leverage exacerbated volatility, resulting in total liquidations of roughly $436 million across 24 hours, affecting more than 110,000 traders. Long positions bore the brunt of the losses, accounting for approximately $306.88 million of the aggregate liquidations, compared to $129.20 million for shorts. The largest single liquidation event occurred on Hyperliquid’s BTC-USD market. If buyers fail to reclaim the lost support, the next major downside target sits near the $60,021 demand zone, with further weakness potentially extending to $54,837.