With momentum broken, attention has turned to support. Traders watching the $65,000 level as near-term technical support believe a decisive break could potentially open the door to a test of $60,000, but if current levels hold, there could be a setup to a short-term rebound (especially if ETF outflows slow and forced selling exhausts itself).
In either case, what happens at $66,000 may set the tone for the weeks ahead.
