Technically, Bitcoin faces challenges with a critical support level at around $25,500. A break below this could lead to further declines, potentially testing $20,000.
Yes there is big buying volume around 25k and hope that it will not broken otherwise 22k or more down possible but market is now looking green and btc recovered after dump to 24900$. Bad news in market has very bad impact upon btc price and whenever any big changes occur in btc price then reason behind is good or bad news. Many whales dump the price when decision upon ETF Application postponed but hope it will not remain for long time because halving is going to be happen next hear and also many Good news such as ETF approvals could also be happened.
In terms of news, the FTX token sale case may appeal in September. However, the market's ability to absorb a $200 million sell-off remains uncertain. Key events, including the FTX case and economic data, are being closely watched.
Some analysts believe this drop may be manipulated to liquidate long positions. The market is contracting, with funds flowing to a few, causing a drop in Bitcoin's trading volume.
Actually this FTX token sale news created so much fud and fear in the market and many short hand sold btc without any research. according . most of the token owe by FTX are locked and theu could not sale except a very small percentage which will not affect the market
Check the almaeda wallet and Solona tokenomics
https://twitter.com/Vybe_Network/status/1701286011651953054