The Bitcoin daily chart is showing signs of heaviness. With the price recently falling below both the short and medium-term exponential moving averages (EMA), market buying momentum has noticeably weakened. Due to recent uncertainties regarding Coldcard security combined with a general market aversion to risk assets, buying power is struggling to provide support.

The most critical pivot point right now is the $63,500 support level. A breakdown below this could intensify downward pressure, but conversely, if the market absorbs the selling and reclaims the short-term baseline, this recent decline may prove to be just a temporary retracement. Rather than rushing to predict the direction, it would be best to calmly observe whether the support level holds based on daily closes.