Bitcoin Holds $60,000 as Bear Market Signals Persist

Bitcoin approached intraday highs ahead of Monday’s Wall Street open, with $60,000 holding as key support. TradingView data showed selling pressure easing after the weekly close — Bitcoin’s lowest since October 2024. A rebound to $64,000 is being watched for signs that worse is yet to come.

Market attention remains on the $60,000 mark amid weak sentiment across shorter and longer time frames. Trader Daan Crypto Trades wrote that if $60K holds he would assume a range and “I can easily see us trade in this $60K-$80K region for quite a while.” Charts also show the 200-day simple moving average acting as short-term resistance.

Others flagged the risk of further downside. Rekt Capital warned to watch for a failed rebound and weakening of support at $60,000, noting that “Bitcoin has now tagged the 200-week SMA for the first time in this Bear Cycle” and that deviating below it has historically been the key to building out a bear market bottom formation.

United States, New York

bitcoin, bitcoin price, 60k, 64k, 80k, bear market, selling pressure, 200-day sma, 200-week sma, rekt capital