Bitcoin Price Analysis: Where Is BTC Heading Next After Drop Below $61K?
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Bitcoin is under heavy selling pressure after rejection at the descending 200-day moving average and a sharp breakdown below the ascending channel and the 100-day MA near $74K, invalidating the prior recovery and pushing BTC toward a major demand zone around $60K. On-chain data showing rising realized losses signals deteriorating investor sentiment and could weigh on broader crypto markets, CEX liquidity and DeFi risk appetite, increasing downside risk for price and adoption in the near term.
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Bitcoin remains under heavy selling pressure after crashing below multiple key support levels in quick succession. The recent rejection from the descending 200-day moving average triggered a sharp sell-off that invalidated the previous rising channel structure and pushed BTC back toward a major demand zone around $60K. Meanwhile, on-chain data suggests market participants are increasingly realizing losses, reflecting deteriorating investor sentiment.
Bitcoin Price Analysis: The Daily Chart
On the daily timeframe, Bitcoin has confirmed a significant bearish breakdown after falling below both the ascending channel and the 100-day moving average near $74K. The channel had supported the recovery from February’s lows, but the recent violation indicates that buyers have lost control of the intermediate trend.
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Coins
$ 63.80K
+0.91%
$ 0.0018
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In This News
Coins
$ 63.80K
+0.91%$ 0.0018
Predictions Markets
See what traders are focused on
Share:
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