$BTC : Market Breakdown
Price Action & Structure
Price Status: Trading near $63,100; hit an intraday low of $62,700.
Trend: Heavily bearish; currently down 19%+ in February (worst month since 2022).
Technicals: BTC is trapped below the 200-day MA and 50-day MA.
Chart Pattern: A "bear pennant" on the daily chart suggests potential continuation toward $50,000 – $53,000.
Key Trade Levels
| Level Type | Price Zone |
|---|---|
| Major Resistance | $66,000 – $67,000 |
| Bullish Reclaim | $70,000+ (Required to flip bias) |
| Primary Support | $60,000 – $62,000 (Psychological Floor) |
| Liquidation Target | $53,000 (If $60k fails) |
Market Sentiment Drivers
Macro Headwinds: Trump’s 15% global tariff announcement and US-Iran tensions are fueling "risk-off" sentiment.
Institutional Selling: Spot ETFs have seen 5 consecutive weeks of outflows, totaling over $4.5B in 2026.
Correlation: BTC is moving in lockstep with tech stocks rather than acting as "digital gold."
Bottom Line: The path of least resistance remains downward. Watch the $60,000 support closely; a weekly close below it confirms a major breakdown.
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