$BTC is currently testing key support after a sharp pullback from its recent highs near $72k. The primary level to watch is the **$60,000 - $61,500 zone**. A sustained hold above here is critical for bullish structure.
Key Factors:
· Macro: Sentiment is dampened by strong US dollar and shifted Fed rate cut expectations.
· On-Chain: Significant ETF outflows (especially from Grayscale's GBTC) are applying consistent selling pressure. However, long-term holder accumulation continues.
· Technical: The daily chart shows weakening momentum. A break below $60k could trigger a swift move toward the next major support near **$56,500**.
Short-Term Outlook:
The market is in a cautious consolidation phase.Bullish momentum requires a reclaim above **$65,000** to regain confidence. Until then, the bias leans neutral-to-bearish, with the $60k level acting as the line in the sand.
Levels to Watch:
· Resistance: $65,000 → $67,500
· Support: $60,000 → $56,500
The market remains sentiment-driven. Monitor ETF flow data and broader risk asset trends for the next directional cue.
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