"Bitcoin sees strong buying interest around $65,000…potential signal of a short-term bottom"

Bitcoin (BTC) has drawn strong buying around the $65,000 level, raising the possibility that it may be forming a short-term bottom.

According to Cointelegraph on the 31st (local time), when Bitcoin fell below $65,000, the buy-sell ratio (bid-ask ratio) showed a pronounced advantage for buyers. In that range, buying interest expanded to the 99th percentile across the 1–10% band based on order-book depth, indicating unusually strong demand.

Bitcoin then rebounded quickly, reclaiming the $67,000–$68,000 range. Cointelegraph analyzed that "this reflects weakening selling pressure while buy orders were absorbed at key liquidity zones."

Technically, a shift to a bullish structure on the 4-hour chart has been confirmed, lending support to the short-term rebound. However, the analysis says the move needs to hold above $66,700 on the daily chart to be sustained.

On the upside, around $71,000 there is $1.6 billion worth of short-position liquidations waiting, so if prices approach that area, the possibility of an extended rebound driven by a short squeeze is also being discussed.

Meanwhile, the early-April window is also seen as a period with a higher likelihood of bottom formation from a seasonal and timing perspective. Looking back over the past nine months, the start of the month acted as a short-term bottom about 67% of the time.

That said, the pattern of downside pressure following an early Monday rise has also repeated, meaning the possibility of heightened short-term volatility cannot be ruled out, the report said.