Bitcoin Price Analysis: Is the September Rally Structure in Danger as BTC Hangs by a Thread?

Bitcoin is attempting to stabilize around $78K after posting its fourth straight weekly loss, with sentiment weighed down by the record Binance hack and a $643.3 million withdrawal from U.S. spot Bitcoin ETFs on Friday. The asset now sits inside a key demand zone that could decide whether the September rally structure survives. Meanwhile, the Velocity metric has climbed to its highest level since late 2024, suggesting that supply is circulating more actively even as prices decline. Bitcoin Price Analysis: The Daily Chart On the daily timeframe, Bitcoin continues to trade within the broad ascending channel that has guided the recovery from the summer lows near $58K. However, the rejection from the upper boundary and the $86K–$90K supply zone in late September has given way to a series of lower highs, and last week’s sell-off pushed BTC below the channel’s midline around $82K. The price is now trading inside the $75K–$78K order block, which formed the base of the sharp September rally. The lower wick printed during the hack-driven drop shows buyers responding here, but the rebound has so far been shallow. Holding this zone would allow BTC to attempt a return toward the channel midlin...