Bitcoin Price Stuck at $60,000 Support Level

After the opening of Wall Street trading on Thursday, the price of Bitcoin (BTC) fell below $64,000, with weekly losses reaching 13.5%. According to TradingView data, the BTC price is struggling to recover after hitting its lowest level since early February. Cointelegraph.com reports .

The BTC/USD pair has retested its 200-week simple moving average (SMA) trend line and continues to mimic the behavior of the 2022 "bear" market. Prominent trader Daan Crypto Trades emphasized in his analysis on the X platform that the decline is continuing after a failed test of the $80,000 area.

According to the expert, the current main focus is on the $60,000 level, which should serve as a key support point holding the market. The significance of this level is further enhanced by the fact that the weekly 200MA indicator is also located in this area.

The analytical resource The Kobeissi Letter notes that since October 2025, the total capitalization of the crypto market has lost more than $2 trillion. This is causing increased concern among investors and a decrease in liquidity.

In the short-term outlook, sellers still dominate. According to an analyst known by the pseudonym Exitpump, every price increase in the futures order book on the Binance exchange is met with strong selling pressure, which is hindering upward price movement.