Bitcoin Braces for More Turbulence: Why the BTC Price Pain Isn’t Over

Bitcoin has entered a fresh bearish phase, slipping significantly below the critical $65,000 support zone. With selling pressure mounting and technical indicators flashing red, the market is bracing for a potential dip toward the $60,000 mark.

Broken Supports and Bearish Momentum

After failing to maintain its position above the $65,500 support level, Bitcoin extended its decline, eventually sliding below $64,000. The digital asset recently touched a low of $61,255, confirming that bearish sentiment currently dominates the market. Currently, the price remains pinned below the 100-hourly simple moving average, while a persistent trend line at $63,200 acts as a ceiling for any price recovery.

Critical Resistance and Downside Risks

Technical indicators highlight the uphill battle for bulls, with the MACD gaining bearish momentum and the RSI remaining below the 50 level. If the cryptocurrency cannot clear the immediate $64,000 resistance, analysts anticipate further declines toward the $62,000 and $61,200 support levels. A failure to hold these positions could push Bitcoin toward the psychological floor of $60,000, a move that would significantly complicate short-term recovery efforts.