BTC price drops to 1-week low as traders focus on Bitcoin whales, Nvidia

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Bitcoin shows signs of strain amid heavy overhead BTC price resistance and overheated funding rates.

Bitcoin (BTC) threatened a breakdown from its trading range at the Feb. 21 Wall Street open as resistance stayed firmly in place.

Data from Cointelegraph Markets Pro and TradingView showed ongoing retests of the lowest BTC price levels in a week.

After hitting new 26-month highs of $53,000, Bitcoin saw immediate sell-side pressure — even familiar sources of support, such as anticipation of buyer interest in the spot exchange-traded funds (ETFs), failed to lift the mood.

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