Bitcoin's price is currently hovering around $65,000, after a recent surge that saw it reach an impressive high of $66,500. However, the cryptocurrency is facing significant challenges in maintaining its upward momentum, with a crucial support level of $65,390 being closely watched by investors. If Bitcoin fails to hold above this level, a downward trend could emerge, with potential targets of $63,135 and $60,252.

Despite these challenges, experts predict that Bitcoin's price could reach $67,560 by the end of May, with some even suggesting that it could climb as high as $79,186 if it surpasses this predicted level. However, if Bitcoin fails to maintain support at $66,000, it could decline to $65,200, triggering further losses and potentially dropping to $64,600 or even lower to $63,750.

The mining community is also facing difficulties, with the Bitcoin Miner Price metric falling below the Electrical Cost of BTC for the fifth time. This decline suggests that miners may struggle to cover electricity expenses, with insufficient revenue from each BTC mined to cover costs. Charles Edwards, founder of Capriole Investments, has highlighted the challenges faced by miners, with the Electrical Cost and Mining Price both on the decline.

Overall, while Bitcoin's recent surge has been impressive, the cryptocurrency is facing significant challenges in maintaining its upward momentum. Investors will be closely watching the $65,390 support level, as well as the performance of miners, to determine the next move for Bitcoin.