$BTC /USDT is experiencing a significant downturn, trading at $63,132.29 after a 5.78% drop. The 4-hour chart reveals a sharp bearish trend, with the price slipping well below its 7, 25, and 99 moving averages. While Bitcoin briefly hit a 24-hour low of $61,383.56, it has seen a minor intraday bounce. Traders should watch closely to see if this support holds.