Bitcoin Price Analysis: Is $54K Inevitable for BTC if $60K Support Is Decisively Lost?
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Bitcoin has fallen below several key supports and is holding at the critical $60K demand zone after a rejection near $82K and a confirmed breakdown under the $74K resistance and the 100-day moving average, reflecting heavy selling pressure over the past few weeks. The broader crypto market structure favors sellers and the market's reaction at $60K will likely determine the next major move, posing downside risk for prices, DeFi and CEX flows and slowing adoption momentum.
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After yielding to heavy selling pressure and losing several key support levels over the past few weeks, Bitcoin is now holding at a key support level. The broader market structure continues to favor the sellers, but the market’s reaction to the $60k critical demand zone could determine the next major move.
Bitcoin Price Analysis: The Daily Chart
On the daily timeframe, BTC is trading below $60K after extending its decline from the rejection near the $82K region. The breakdown below the $74K resistance area, which also aligns with the 100-day moving average, confirmed a bearish shift in market structure and accelerated the latest leg lower.
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$ 64.17K
+0.18%
$ 0.00185
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In This News
Coins
$ 64.17K
+0.18%$ 0.00185
Predictions Markets
See what traders are focused on
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