Bitcoin Risks $60,000 Resistance Flip as Asian Tech Selling Returns

Bitcoin struggled to reclaim $60,000, posting its first daily close beneath that level since September 2024. TradingView data showed prior support increasingly becoming the bulls’ new hurdle after the sub-$60,000 close. Asian stock markets slid again, with South Korea’s circuit-breakers triggered by an 8% crash and tech-stock worries dominating the session.

US markets largely avoided contagion, leaving the S&P 500 and the Dow Jones in the green, while Micron’s stronger-than-expected earnings briefly lifted sentiment. Observers pointed to deep weakness among big tech names; the Kobeissi Letter noted many were down more than 50% from their all-time highs, with Coinbase leading at -69%.

QCP Capital emphasized US inflation’s influence on risk assets, citing nowcasts of core PCE at 3.30% and headline PCE at 3.82%, and a Fed 2026 inflation forecast that moved up to 3.6% from 2.7%. On Bitcoin’s charts, trader Michaël Van de Poppe asked whether the recent moves would extend and flagged the upcoming quarterly options expiry.

South Korea

bitcoin, 60k resistance, asian selling, south korea, circuit breakers, tech stocks, big tech, coinbase, pce inflation, options expiry