Bitcoin Struggles Below $64K Amid Significant Weekly Losses
- Bitcoin (BTC) fell below $64,000, marking a weekly loss of over 13.5%, its worst performance in 2026.
- The critical support level for bulls is now at $60,000, which analysts are closely monitoring.
- BTC has approached its 200-week simple moving average (SMA), reflecting patterns similar to the bear market of 2022.
- Since October, the total cryptocurrency market cap has decreased by more than $2 trillion.
- Market commentators noted that selling pressure remains high, with each price bounce met by significant sell orders on exchanges like Binance.
The current state of Bitcoin indicates strong selling pressure as it approaches a crucial support level at $60,000, which traders believe must hold to prevent further declines.
With BTC facing its worst week yet in this year and nearing the pivotal $60K mark, market dynamics suggest continued volatility ahead. (Source)
