Odaily News FxPro trader Alex Kuptsikevich said that if Bitcoin closes below $60,000 in the coming days, panic selling could occur. Crypto traders are targeting Bitcoin to break $65,000 before market sentiment is seen as bullish. Kuptsikevich said in a note on Monday that Bitcoin price action has been characterized by a series of lower lows and lower highs, a sign that investors are selling as prices rise. "The pressure could be related to asset sales by miners and concerns about tightening cryptocurrency regulation," he said. "A failure below $60,000 could trigger panic selling," Kuptsikevich added. "In our view, the positive scenario would become the dominant one, with a rally above $65,000, anchoring the price at the 50-day moving average and the early May reversal zone." (CoinDesk)