Where Could BTC Bottom After Breaking Below Key Ascending Channel? (Bitcoin Price Analysis)

🔻 Bitcoin has broken below a significant rising channel and is facing heavy selling pressure, with the price currently hovering around $63k and approaching a critical support zone at $60k.

📉 The recent rejection from the $67k resistance indicates that bearish momentum remains strong, and failure to hold the $60k support could lead to further declines towards the $50k-$52k range.

📊 On-chain data shows long-term holders are realizing losses, with the Long-Term Holder SOPR dropping below 1.0, suggesting a shift in market dynamics and reduced profit-taking activity among seasoned investors.