Bitcoin price started a fresh increase and cleared the $64,500 zone. BTC is consolidating and might aim for more gains above the $66,200 level. Bitcoin managed to stay above $62,500 and started a fresh increase. The price is trading above $64,500 and the 100 hourly simple moving average. There is a bullish trend line forming with support at $64,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend gains if it stays above the $65,500 and $66,200 levels. Bitcoin Price Regains Strength Bitcoin price found support near $60,800 and started a fresh increase. BTC gained pace for a move above the $61,500 and $63,200 resistance levels. The bulls even pushed the price above $64,500. A high was formed at $65,847, and the price started a consolidation phase above the 23.6% Fib retracement level of the upward move from the $60,746 swing low to the $65,847 high. Bitcoin is now trading above $64,500 and the 100 hourly simple moving average. Besides, there is a bullish trend line forming with support at $64,200 on the hourly chart of the BTC/USD pair. If the price remains stable above $64,500, it could attempt a fresh increase. Immediate resistance is near the $65,500 level. The first key resistance is near the $66,200 level. A close above the $66,200 resistance might send the price further higher. In the stated case, the price could rise and test the $66,800 resistance. Any more gains might send the price toward the $67,500 level. The next barrier for the bulls could be $68,000. Another Decline In BTC? If Bitcoin fails to rise above the $66,200 resistance zone, it could start another decline. Immediate support is near the $64,650 level. The first major support is near the $64,200 level. The next support is now near the $63,300 zone or the 50% Fib retracement level of the upward move from the $60,746 swing low to the $65,847 high. Any more losses might send the price toward the $62,500 support in the near term. The main support now sits at $61,800, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $64,650, followed by $64,200. Major Resistance Levels – $65,500 and $66,200.
On-chain data shows trading volume in the crypto sector has slumped to the lowest level in two years, a sign that investors have turned their attention away from the market. Crypto Trading Volume Has Seen A Notable Decline In a new post on X, on-chain analytics firm Santiment has talked about the latest trend in the trading volume of crypto assets. The “trading volume” here refers to an indicator that keeps track of the total amount of a given token that’s becoming involved in trading activity on the various centralized exchanges. Related Reading: Bitcoin Bottom Not Here Yet? This Indicator Remains In Transition Phase When the value of the metric rises, it means exchanges are observing increased activity surrounding the asset. Such a trend implies the token is attracting attention from traders. On the other hand, the indicator going down suggests investors may be losing interest in the market as they are participating in fewer trades on exchanges. Now, here is the chart shared by Santiment that shows how the trading volume of the different top-cap cryptos has changed over the last few years: As displayed in the above graph, the trading volume peaked for the combined crypto sector back in mid-2025. Since then, the indicator has followed a downward trajectory for the various coins. After the latest continuation of the downtrend, the crypto trading volume has declined to its lowest level since mid-2024. “Traders appear reluctant to aggressively buy or sell as macro uncertainty, geopolitical tensions, and recent liquidations keep participants on the sidelines,” noted the analytics firm. While the trend may look bearish at first glance, the past pattern could suggest otherwise for the market. “Historically, some of crypto’s strongest recoveries have emerged from periods when interest, volume, and participation were at their lowest,” explained Santiment. Considering this, it now remains to be seen how the sector will develop in the near future. Related Reading: Dormant Cardano Whales Suddenly Come Alive: Is A Turning Point Near? While crypto volume may have waned, the same hasn’t been true for adoption. As highlighted by the analytics firm in another X post, the Total Amount of Holders, an indicator tracking the total number of non-empty addresses present on a given network, has been climbing for the different top assets in recent years. From the chart, it’s apparent that Ethereum is the crypto that has enjoyed the strongest adoption, with the Total Amount Of Holders sitting at 195 million. “While social media remains focused on $ETH’s underperformance, user adoption has continued moving in the opposite direction,” said Santiment. Bitcoin Price At the time of writing, Bitcoin is floating around $62,700, up 1.8% in the last 24 hours. Featured image from Dall-E, chart from TradingView.com
A crypto analyst has stated that the Bitcoin price remains firmly in a bear market, projecting more volatility and pain ahead for the world’s largest cryptocurrency. The expert also noted that BTC has entered the final phase of this bearish stage, a period where the market is expected to reach its lowest levels alongside extreme Fear, Uncertainty, and Doubt (FUD). In his outlook, the analyst projected a timeline for when Bitcoin could complete its final capitulation move and establish a long-awaited bottom. He has also outlined a likely target range for this projected price floor. Bitcoin To Face More Declines In Final Bear Phase Pseudonymous crypto analyst No Name has broken down his price projections for Bitcoin in this bear cycle. In an X post on June 9, the expert announced that the leading cryptocurrency has officially entered the second and final stage of its bear market phase. Related Reading: Bitcoin Price Is Headed To $150,000 In These 4 Scenarios Shared By This Analyst No Name noted that a typical bear market cycle does not end or start at random, suggesting it moves in a well-structured, methodical manner. The analyst explained, using a detailed chart, that a normal bull market goes through six stages, while a bear market experiences only two—marked by a major price crash and complete disinterest. During the first bearish phase of this cycle, Bitcoin’s price declined sharply, shattering the optimistic narrative surrounding the cryptocurrency. This downturn followed a record-breaking rally in October 2025, when Bitcoin surged past $126,000, setting a new all-time high. Since then, the cryptocurrency has continued to trend downward, recently dipping below $60,000 at one point this month. Notably, the second bear phase, in which the market currently resides, is historically characterized by slow, sideways price movement and extremely low investor sentiment. This comes as enthusiasm and interest in Bitcoin plummets, prompting many participants to exit the market. During this phase, trading volumes typically drop, price volatility narrows, and fear dominates investor behavior, often leading to extended periods of stagnation. In his analysis, NoName noted that both bear market phases typically last about 350 days each. With the first phase already completed in this cycle, the math suggests that Bitcoin’s ongoing bear trend could end in October 2026. Confirming this, the analyst expects BTC’s price to hit its final cycle bottom within a key target range around that timeline. Based on his chart, this price floor currently sits between $47,000 and $51,000, aligning with the MA 350. Analyst Forecasts BTC Crash Next Week And ATH Next Year For a shorter-term outlook, crypto analyst Kabuki projects that Bitcoin could crash to $54,000 as soon as next week. He expects the cryptocurrency to also extend this decline, likely hitting a final price bottom around $47,000 by July 2026. Related Reading: What The Bitcoin Price Is Doing Now After Bouncing From $59,000 He backed his bearish outlook by noting that Bitcoin is currently at a historical level where every bull trap ends. Once the bear market capitulation concludes by July, Kabuki predicts that a fresh bull trend could emerge, potentially paving the way for BTC to rally to new all-time highs around $151,000 by January 2027. Featured image from Getty Images, chart from Tradingview.com
Crypto analyst Crypto Rover has pointed to a trendline that Bitcoin has never broken below in every market cycle. The leading crypto has now touched this trendline, providing optimism that it could bounce from that level as it did in previous bear cycles. Bitcoin Touches Trendline That Has Led To Parabolic Rallies In an X post, Crypto Rover revealed that Bitcoin has again touched the trendline it has never broken below in 9 years. Instead, BTC has seen parabolic rallies whenever it touches this trendline. In 2017, it rallied 1,300% after touching this trendline; in 2018, it rallied 1,900% after touching it; and in 2020, it rallied another 1,900% after touching it. Bitcoin saw another parabolic rally of 700% after touching this trendline in 2022. Related Reading: The Verdict Is In For Bitcoin: Majority Of Investors Say BTC Price Is Headed Lower, Here Are The Numbers Now, Bitcoin has once again touched this trendline, offering optimism that it could bounce from this region as it did in past cycles. However, in another X post, Crypto Rover suggested that BTC has not yet found a bottom and could still drop below $60,000 before it bottoms. This came as the analyst alluded to BTC’s realized price. He noted that the short-term holders’ (STH) realized price at $74,000 has been reached, but that the realized price of $53,600 and the long-term holders’ (LTH) realized price of $50,000 have not been reached. Crypto Rover added that every prior cycle bottom has traded below the realized price and that every major flush has kissed the LTH line. As such, BTC is still likely to see another move down before it bottoms. Bitcoin is also at risk of another decline with the U.S.-Iran war escalating again. The U.S. carried out strikes against military targets in Iran, which led to retaliatory attacks against U.S. military bases in the Gulf region. A Drop Below $50,000 Is Also A Possibility Crypto analyst Ali Martinez has indicated that Bitcoin could still drop below $50,000. This came as he pointed to the Investor Price, which he noted is currently $48,300. He said that this level is a key area he is watching for long-term accumulation. The analyst had described this metric as one of the most important BTC on-chain metrics. Related Reading: This Bitcoin Chart Shows What To Expect For The Next 3 Months After Major Decision Point Martinez explained that this metric measures the average acquisition price of all economically circulating Bitcoin, filtering out permanently lost coins to provide a more realistic market-wide cost basis. However, it is worth noting that the analyst had earlier said that there were signs that BTC was about to reach a market bottom. He pointed to the 1.0-0.8 MVRV bands, which align at $53,900 and $43,150. At the time of writing, the Bitcoin price is trading at around $62,600, up in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com
Bitcoin’s investor sentiment is in ruins, but buried inside the wreckage, a technical signal that has appeared only at the most consequential turning points in Bitcoin’s history has just fired again. This technical argument, which is built around Bitcoin’s Relative Strength Index, is because the indicator has fallen to its lowest daily reading in four years, a level last seen near the 2022 bottom before BTC began its climb from $15,500 to $70,000. Bitcoin’s RSI Is Back In A Rare Bottom Zone The Relative Strength Index is among the most used momentum indicators, measuring the speed and magnitude of price movements on a scale from 0 to 100. Readings below 30 indicate oversold conditions. At its lowest point during the recent selloff over the weekend, the daily RSI fell to as low as 21.8, and the reading is still around the mid-20s at the time of writing. Related Reading: Crypto Analyst Gives Timeframe For When The Bitcoin Price Will Hit $200,000 That places this reading among the lowest on record for the daily timeframe, and that is why a crypto analyst that goes by the name Crypto Tice on the social media platform believes the Bitcoin price action may be looking at something much bigger than a normal oversold bounce. As shown in the chart below, the red and orange zones line up with some of Bitcoin’s most painful periods, including the 2011 bottom, the 2015 bear-market low, the 2018-2019 correction, the 2022 collapse, and now the 2026 slow correction. In each case, the bottom appeared when the Bitcoin price had already endured a major decline, and that is the same setup happening right now. Bitcoin Price Chart. Source: @CryptoTice_ On X Why A 200% Target Is Possible For Bitcoin Bitcoin fell below $60,000 for the first time since 2024 and is currently down by about 50% from its October 2025 peak above $126,000. The leading cryptocurrency is now trading between $61,000 and $63,000. Interestingly, the main comparison of where Bitcoin goes from here is the 2022 bottom. Back then, Bitcoin’s RSI reached deeply oversold levels as the price collapsed to around $15,500, but the low eventually became the base for a rally to $70,000 in 2024. That move represented a gain of more than 350% from the cycle bottom, and it eventually rolled on to its all-time high in October 2025. Related Reading: Dogecoin Is One Step Away From The Same Pattern That Triggered 2021’s 29,000% Rally, What Next? If Bitcoin were to form a similar bottom around the current $60,000 zone, a 200% rally would place the price at a target of $180,000. A move matching the full 2022-to-2024 recovery would imply even higher levels above $200,000. The present market also has a different background from 2022. Bitcoin now has spot ETFs, deeper institutional involvement, and large corporate holders that are influencing sentiment. Speaking of ETFs, Spot Bitcoin ETFs have resumed their streak of outflows, which complicates any bottom prediction right now. The technical signal from the RSI is strong, but the Bitcoin price needs demand to turn the signal into a sustained rally. Featured image created with Dall.E, chart from Tradingview.com
On-chain data shows the Bitcoin PnL Index is currently in a transition phase that has historically led into bottoms, but not immediately. Bitcoin PnL Index Has Been Going Down Recently In a new post on X, community analyst Maartunn has talked the latest trend in the Bitcoin PnL Index, which combines the data of a few key on-chain metrics into one to produce a single valuation indicator for BTC. Related Reading: Dormant Cardano Whales Suddenly Come Alive: Is A Turning Point Near? The metrics include the MVRV Ratio, NUPL, and LTH/STH SOPR. The former two deal with unrealized investor gains/losses while the last one is related to the gains/losses that holders are realizing through their transactions. Now, here is the chart shared by Maartunn that shows the trend in the 365-day moving average (MA) of the Bitcoin PnL Index over the history of the cryptocurrency: As displayed in the above graph, the 365-day MA of the Bitcoin PnL Index has been following a consistent downtrend since Q4 2025, reflecting the bearish market shift. So far, the indicator hasn’t left the positive territory, which suggests that, at least from the perspective of the metric, the cryptocurrency hasn’t yet become “undervalued.” In the chart, it’s visible that historical bear market bottoms have generally occurred as the PnL Index has dropped into the red zone. Given this, it’s possible that a similar trend will play out in this cycle as well. Though, something to keep in mind is that the current cycle has already differed from the previous ones in the bull market phase. Past cycles observed a single main peak in the PnL Index coinciding with the market top. This cycle, however, witnessed the formation of two similarly sized peaks occurring alongside the Q1 and Q4 2025 tops. As such, it now remains to be seen how the indicator’s trajectory will look by the time this bear market has played out and whether it will be anything like that seen in the previous cycles. Related Reading: Bitcoin Back At Production Cost: Analyst Says Best Value Zone Starts Here In some other news, the recent bearish price action has meant that the Bitcoin short-term holder (STH) whales have fallen into a deep state of loss, as highlighted by the analyst in another X post. The STH whales refer to the BTC investors carrying at least 1,000 tokens in their wallet who bought into the cryptocurrency within the past 155 days. Below is a chart that shows how the net profit/loss held by these humongous investors is looking right now. “Short-Term Holder Whales are now sitting on -$16.4B in unrealized P&L, the deepest level of stress seen in this cycle,” noted Maartunn. BTC Price At the time of writing, Bitcoin is floating around $61,700, down over 6% in the last seven days. Featured image from Dall-E, chart from TradingView.com
Bitcoin is struggling below $62,000 as selling pressure and fear continue to define the market environment. The uncertainty is real — but top analyst Woominkyu has published an on-chain analysis that reveals what was actually happening during the most intense phase of the decline. And the picture it paints looks considerably different from the panic narrative that dominated market commentary at the time. Related Reading: XRP Leverage Flush Hits Bybit While Binance Holds The Line – Analyst Explains Rare Setup The on-chain data tells a story in two distinct acts. The first act was the trigger. On June 2 and 3, older dormant wallets moved massive supply to exchanges — the Inflow Coin Days Destroyed metric peaked at 2.16 million, reflecting coins that had been held for extended periods suddenly being moved toward the sell side simultaneously. That supply shock forced the price down from $71,000, creating the conditions for the breakdown that followed. The second act is where the data becomes most analytically significant. At the $60,000 to $61,000 bottom, the Exchange Whale Ratio surged to 61.6%. Confirming that the largest market participants completely dominated buy-side activity during the most fearful period of the decline. While retail participants were panicking and selling into weakness, whales were executing an aggressive and systematic accumulation campaign at the exact prices that fear had created. The divergence between what retail did and what smart money did at $60,000 is the signal Woominkyu’s analysis is built around. 11,422 BTC Swept Off Exchanges in 5 Days The supply drain that followed the whale accumulation completes the picture that Woominkyu’s analysis assembles. Over the five days following the $60,000 to $61,000 bottom, whales withdrew 11,422 BTC — approximately $700 million — off exchanges and into cold storage. The Exchange Netflow turned deeply negative as the coins absorbed during the panic phase were immediately moved away from the venues where they could be resold. Bitcoin price vs. Exchange Whale Ratio | Source: Woominkyu on CryptoQuant The behavioral sequence is precise and deliberate. Whales bought aggressively at the bottom using the panic selling that retail participants generated. Then they withdrew those coins from exchanges entirely — removing them from the immediately available sell-side supply and placing them in cold storage where they cannot re-enter the market quickly. The result is a liquid supply drain of significant scale. Over $700 million worth of Bitcoin that was briefly available on exchanges during the most fearful period of the decline has been swept into long-term custody in less than a week. The order book is thinner than it was before the drop. The supply that retail sold into the bottom is now held by participants who have demonstrated through their behavior that they have no intention of selling it back at current prices. Woominkyu’s verdict follows directly from the sequence. The wealth transfer from weak hands to strong hands is complete. The $60,000 to $61,000 range has been validated as a genuine institutional accumulation zone — defended at scale, absorbed systematically, and immediately removed from liquid circulation. That behavioral fingerprint establishes the floor from which the next leg higher becomes structurally possible. Related Reading: Bitcoin Flashes One Of Its Rarest Demand Signals In Six Years – Details Bitcoin Clings To February Support Bitcoin remains under significant pressure on the daily timeframe. The price is trading near $61,400 after suffering one of its sharpest declines of 2026. The chart shows a decisive breakdown below the critical $64,000–$66,000 support zone that had previously acted as a floor during the February-March consolidation. Once that area failed, sellers quickly pushed BTC into the lower end of its broader range, triggering a rapid move toward the psychologically important $60,000 level. Bitcoin trading below key level | Source: BTCUSDT chart on TradingView The current structure is technically fragile. Bitcoin is trading below the 50-day, 100-day, and 200-day moving averages, with all three trending downward. This alignment confirms that bearish momentum remains dominant across short-, medium-, and long-term timeframes. Notably, the recent recovery attempt from the $60,000 area has been relatively weak. Producing only a modest bounce despite elevated trading volume during the selloff. Related Reading: Bitcoin Flashes One Of Its Rarest Demand Signals In Six Years – Details From a market structure perspective, the most important observation is that Bitcoin is now revisiting the same support zone that produced the February low. That area between roughly $60,000 and $62,000 has become the last major defense line preventing a deeper retracement. A sustained hold above this region could allow price to stabilize and potentially build a base. A decisive breakdown would leave little historical support until significantly lower levels. Increasing the risk of another volatility expansion phase. Featured image from ChatGPT, chart from TradingView.com
Bitcoin price started a fresh decline below the $62,500 zone. BTC is showing bearish signs and might continue to move down if it dips below $61,200. Bitcoin failed to stay above $63,200 and extended losses. The price is trading below $62,500 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance near $62,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses if it stays below the $62,500 and $63,500 levels. Bitcoin Price Dips Toward Support Bitcoin price failed to stay above the $63,500 support zone. BTC remained in a bearish zone and extended losses below the $63,200 level. There was a move below the $62,500 level. The price even dipped below $61,200. A low was formed at $60,746 and the price is still showing many bearish signs. There was a minor increase above the 23.6% Fib retracement level of the downward move from the $64,613 swing high to the $60,746 low. Bitcoin is now trading below $62,500 and the 100 hourly simple moving average. There is also a bearish trend line forming with resistance near $62,400 on the hourly chart of the BTC/USD pair. If the price remains stable above $60,750, it could attempt a fresh increase. Immediate resistance is near the $62,500 level and the trend line. The first key resistance is near the $63,200 level or the 61.8% Fib retracement level of the downward move from the $64,613 swing high to the $60,746 low. A close above the $63,200 resistance might send the price further higher. In the stated case, the price could rise and test the $63,500 resistance. Any more gains might send the price toward the $64,500 level. The next barrier for the bulls could be $65,000. More Losses In BTC? If Bitcoin fails to rise above the $63,200 resistance zone, it could start another decline. Immediate support is near the $61,650 level. The first major support is near the $61,200 level. The next support is now near the $60,750 zone. Any more losses might send the price toward the $60,200 support in the near term. The main support now sits at $60,000, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $61,650, followed by $61,200. Major Resistance Levels – $62,500 and $63,500.
As Bitcoin (BTC) hovers near its lowest levels since late 2024, a market observer suggests the flagship crypto may not have finished bottoming yet, with more downside potentially ahead. Related Reading: XRP Sees Intense Capitulation As Realized Profit-To-Loss Ratio Plunges BTC’s Historical Data Points To Longer Correction On Wednesday, analyst Rekt Capital compared Bitcoin’s current price action to its performance in previous cycles to determine how close the leading crypto’s market bottom may be. In a video analysis on X, the market watcher explained that BTC’s deviations from previous all-time highs (ATHs) could serve as key reference points for this assessment. Notably, Bitcoin bottomed 22% from the 2017 peak during the last cycle’s correction. Now, it is trading roughly 14% below the 2021 peak of $69,000, which could suggest the bottom may be approaching. However, the analyst affirmed that this metric alone “doesn’t represent the mosaic of data that we need to be paying attention to.” He stated that the length of previous bear markets is a crucial indicator to factor in, noting that, historically, Bitcoin bear markets tend to last at least one year, sometimes extending beyond that. For instance, the flagship crypto took approximately 365 days to complete its full corrective phase during the 2021-2022 bear market. The current pullback has lasted about 240 days so far, which would depart from historical behavior and make it significantly shorter than previous cycles if the bottom is already in or close. If the current cycle follows a similar timeline to previous ones, BTC could have at least 120 days left in its corrective phase, with the bottom likely occurring around October and the possibility of further extension if the cycle mirrors longer historical patterns. Bitcoin Bottom Another 20% Below? The analyst highlighted that while the duration of the bear market is important, the depth of its retracement is another crucial factor. Last cycle, Bitcoin dropped 77%, while it declined 84% during its 2018 bear market. Nonetheless, the pullback has only reached 53% so far this cycle, suggesting there may still be room for additional downside. Based on this, he emphasized the trend of shallower bear markets, with the correction’s depth progressively diminishing roughly 7%-10% each cycle. If this pattern repeats, Bitcoin could see a potential retracement near 70% this cycle, placing BTC’s bottom in the high $30,000 range. Meanwhile, if the shallowing trend accelerates toward a 10% reduction, the bottom could form near the low $40,000 region. Related Reading: Bitmine Makes Largest Ethereum Purchase Of 2026 As Tom Lee Dismisses Market Selloff These factors point to a critical period over the next four to five months, the analyst affirmed, in which another leg down of up to 20% remains possible. He noted that similar phases have historically included periods of consolidation followed by additional declines before the final bottom forms. Ultimately, Rekt Capital asserted that this period is crucial as it lays the foundation for the next bull cycle. “This bear market here (…) precedes an entire period of multi-year upside. And I think that’s why it’s important, as a result, to focus on the importance of this bear market bottoming out period over these next few months because we’ll then see a multi-year period of upside,” he concluded. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin is testing a key demand zone after breaking down from a symmetrical triangle, putting the market at a critical turning point. While buyers may attempt to defend this support and trigger a rebound, a failure to hold could open the door to further downside in the near term. Bearish Triangle Breakdown Sends Bitcoin Toward Key Liquidity Zone Minga highlighted that the market has experienced a bearish breakout from a symmetrical triangle pattern, and the price is trending toward the 50% wick fill region of the previous weekly candle, an area containing significant untested liquidity and a long limit order that was previously front-ran. While he expects this long position to be filled, the risk on this trade is minimal at 0.25%, effectively serving as a risk-free hedge against his existing short position. Related Reading: Bitcoin Trader Says Something Extremely Bad Is Coming Today, Here’s What Minga maintains a bullish bias for the remainder of the month, but he emphasizes that this outlook requires technical confirmation, specifically a bounce from the $60,700 level. Losing this key support likely invites further downside, bringing the $58,900 level into focus. Given that the daily trend is showing clear signs of exhaustion, Minga views the $60,700–$58,900 range as a high-probability zone for a potential recovery. However, the analyst cautions that exhaustion does not inherently guarantee a reversal. Market conditions can often result in a slow, grinding decline as the asset hunts for liquidity on both sides, leading to highly choppy price action. This behavior is historically common near major market turning points. Given that the market is potentially nearing a macro bottom, the possibility of a prolonged, choppy descent cannot be ignored. Should this scenario materialize and the current support zones fail to hold, Minga identifies the $54,500–$49,000 region as the next critical downside target. $60,800 Remains BTC’s Most Important Battleground According to analyst @wangtuai888, whose track record includes eight consecutive accurate trend predictions, the market is currently hovering at a decisive juncture. As long as the $60,800 support holds, the asset remains within an uptrend. However, should the price break and close a 1-hour solid candle below $60,800, which marks a critical Point of Control (POC) and a vacuum zone, the analyst anticipates a sharp, immediate decline. Related Reading: Bitcoin Testing A Critical Support After Sharp Market-Wide Selloff If the $60,800 support holds, @wangtuai888 expects an initial rebound toward $62,400 to break the previous minor high and shift the local market structure. This would be followed by a pullback to the $61,800 POC, which the analyst identifies as a favorable entry point for long positions. The strategy then pivots toward a tactical shorting opportunity. The analyst intends to initiate a short position near the 63,000 level, noting that even if a stop-loss is triggered, the high reward-to-risk ratio makes this a worthwhile trade. Ultimately, the analyst emphasizes that this expected rebound should not be mistaken for a full market reversal. The broader direction remains firmly in a downtrend, and the ultimate price target for this bearish cycle is $55,500. Featured image from Pngtree, chart from Tradingview.com
The Bitcoin price could be on track to reach $200,000 within the next one to two years, according to crypto analyst @CryptoTice_. Backed by a long-term cycle chart, the analyst argues that Bitcoin is once again moving through a familiar historical pattern, placing the current phase in what he describes as a key accumulation zone ahead of a potential major rally. Bitcoin Price Path Points To 2027 Target The chart maps Bitcoin’s previous market cycles and outlines a potential path toward $200,000. Based on this projection, the target could be reached within 12 to 24 months from June 2026, placing it between mid-2027 and mid-2028, with 2027 appearing as the more probable timeframe. Related Reading: Analyst Charts Ethereum Long-Term Roadmap To $16,000 – There’s No Need To Panic To support this view, the analyst compares Bitcoin’s current setup with the cycle lows recorded in 2019 and 2022, both marked as “buy zones” that were followed by major rallies. The 2019 bottom preceded a climb to roughly $69,000, while the 2022 low eventually led to a surge toward $126,000. The analyst believes the latest correction fits the same pattern. After falling from around $126,000, Bitcoin rebounded near the $60,000 region, creating what he identifies as another accumulation zone. From there, the projection points to a recovery that ultimately pushes the Bitcoin price toward $200,000. The consistency of this structure forms the foundation of the forecast. In each cycle, Bitcoin experiences a sharp correction, spends time consolidating, and then enters a strong expansion phase. Although the percentage gains have become smaller with each cycle, the broader upward trend remains intact. Why The Crypto Analyst Sees A Rare Opportunity That historical pattern is also why @CryptoTice_ argues that the current market environment may offer a significant opportunity. According to the analyst, previous cycle bottoms were formed during periods of widespread uncertainty, before sentiment eventually shifted and prices moved higher. The chart reflects this view by projecting a gain of roughly 230% from the 2026 buy zone to the $200,000 target. While substantial, that increase is far below the explosive returns seen in Bitcoin’s earlier years, reflecting how the asset’s growth has gradually moderated as the market has matured and attracted greater institutional participation. Related Reading: Not $60,000: Analyst Reveals The Best Time To Actually Start Buying Bitcoin The forecast comes at a time when investors remain divided over Bitcoin’s next move. Some continue to focus on macroeconomic conditions, interest-rate expectations, and regulatory developments, while others see the recent pullback as another cycle correction that could eventually lead to new highs. For the crypto analyst, the most important factor is timing. His model suggests that the current phase may represent the final stage of accumulation before the next major advance begins. If Bitcoin continues to follow the structure shown in the chart, the path to $200,000 could unfold over the next 12 to 24 months, making 2027 a year worth watching closely. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Crypto Lens has predicted that the Bitcoin price could rally to a new all-time high (ATH) of $150,000. This came as he outlined four scenarios that will build toward this rally to a new ATH by next year. Bitcoin Price To Still Rally To $150,000 Amid These Four Scenarios In an X post, Crypto Lens predicted that the Bitcoin price would rally to $150,000 by February next year. This came as he noted that BTC is now hovering at the exact level where every bull trap ends. The analyst stated that next week, another bearish rejection will send BTC back to $43,000. The rally to $150,000 and drop to $43,000 is notably among the scenarios he outlined for BTC. Related Reading: This Bitcoin Chart Shows What To Expect For The Next 3 Months After Major Decision Point In the first scenario, Crypto Lens predicted the Bitcoin price would drop to $48,000 within a few days. This will be followed by a drop to $43,000 in July, which is the second scenario. In the third scenario, the analyst predicts that BTC will fall to $32,000 by September. He described this level as the buy zone, signaling that the leading crypto is likely to bottom around here in this bear cycle. Meanwhile, under the fourth scenario, Crypto Lens predicts that the Bitcoin price will rally to $150,000 by February as a new bull run begins. In another X post, the analyst said that the bear market is 53% done and that BTC has entered the final stage of the 2026 bear market. He also signaled that the cycle bottom will likely happen between August and September, with BTC falling to as low as $32,000. BTC Bottom Likely To Form In The Fourth Quarter In an X post, crypto analyst Colin said that a Q4 bottom for the Bitcoin price is even more likely now that BTC did not have a strong dip immediately. The analyst was referring to market expert Benjamin Cowen’s assessment, in which he noted that BTC closed the week above the 200W SMA after sweeping the February low of $60,000. Related Reading: Bitcoin Crash Says Liquidity Is Dying As May Job Report Comes Back With Staggering Numbers Colin stated that, based on this Bitcoin price action, BTC is likely to bounce for 1 to 3 months and then drop to a new low in the fourth quarter. As such, Q4 has high odds of being the cycle bottom, with a lower low. However, he added that if the Bitcoin price suddenly breaks below the 200-week MA in the coming week or two, then it is likely to form the bottom on this move down. At the time of writing, the Bitcoin price is trading at around $61,200, down over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com
Bitcoin has been forming a pattern for years now, and even with the uncertain price movements, this pattern has now finally be completed. This was explained by crypto analyst Bitcoin Teddy on the X social media platform, showing this pattern, how it was formed, and what the implications are for this formation on the Bitcoin price. The Mid-Year Cup And Handle Pattern That Was Years In The Making In the post, the crypto analyst pointed out that the Bitcoin price has completed a Cup and Handle pattern formation. Unlike some Cup And Handle patterns that are formed in a relatively short time, the analyst says this one has actually been forming for years, and now it’s finally ready to play out. Related Reading: Dogecoin Could Rally 300x And Cross $20, Analyst Claims This pattern was completed with the most recent Bitcoin retest of the $60,000 support. This support was broken briefly, but the price quickly recovered. What this suggests is the formation of the handle part of the pattern after the cup was completed over the years. To put this in perspective, the crypto analyst explained that three things needed to happen. These include the breakout, the retest, and a structure confirmation. The breakout was completed when the price recovered. Then, when the price crashed below $60,000, the retest was done. Now, the confirmation is in place as the Bitcoin price has begun to move upward again. What comes next is even more important since the completion of a Cup and Handle pattern has historically been a precursor to a bull trend. Related Reading: XRP Pundit Says Pay Attention To This Pattern That Everyone Is Missing As the analyst explains, the resulting price surge will not be something like a 20% breakout or so. Historically, a breakout from this pattern would see the price rise multiples of where it was when the pattern was finally confirmed. In this case, the resulting breakout is expected to send the Bitcoin price to new all-time highs. The minimum target placed with the analysis puts the top of this trend at $220,000, which would mean an almost 300% move from where the Bitcoin price is currently trading. What this means is that $220,000 could only be the start of this move if the momentum builds much higher than expected. Featured image from Dall.E, chart from TradingView.com
The founder of Capriole Investments has highlighted how Bitcoin is at the threshold of a zone that has historically provided the best long-term opportunities. Bitcoin Has Returned To Its Production Cost In a new post on X, Capriole Investments founder Charles Edwards has pointed out that Bitcoin is back at its Production Cost. The “Production Cost” here refers to an indicator that estimates the global average USD cost of producing one token of the cryptocurrency per day. Related Reading: Bitcoin Stablecoin Ratio Drops To Extreme Low—What It Means For BTC BTC uses a consensus mechanism called the proof-of-work (PoW) in which validators called miners compete against each other using computing power to gain the chance to add the next block to the chain. Today, the blockchain is so competitive that the average miner requires a ton of machines to have a shot at making revenue. Setting up mining farms can require a significant initial investment, but what determines whether the miner can earn an income is the cost required to keep these facilities running. A high amount of computing power is generally costly to run, with the main expense coming in the form of electricity bills. As the below chart shared by Edwards shows, the Bitcoin Production Cost is about $62,650 right now. This level is about where the spot price of Bitcoin also happens to currently be trading. Thus, if the estimate of the metric is anything to go by, miners are just breaking even on their operations. Following this development, BTC is now on the boundary of a zone that has been significant for the cryptocurrency in the past. “The best Long-term value opportunities have historically been between here and Electrical Cost, currently at $50K,” noted the analyst. The “Electrical Cost” here is the total cost that miners are paying for electricity alone. This level has served as a sort of lower boundary for Bitcoin over the various cycles. The Production Cost suggests that miners are under pressure at the moment. How are they reacting to this? An indicator that can be useful for following miner behavior is the Hashrate, tracking the total amount of computing power connected by these validators as a whole. Related Reading: XRP Could Offer Major Buying Opportunity At $0.90, Analyst Says According to data from CoinWarz, this metric has slumped recently. From the chart, it’s visible that the Bitcoin Hashrate currently has a value of about 837 exahashes per second (EH/s). During May, the indicator frequently touched the 1,000 EH/s mark, more than 19% higher than the latest level. Thus, it would appear that some of the miners have disconnected from the network in response to the bearish market. BTC Price At the time of writing, Bitcoin is trading around $62,400, down 9.5% over the past week. Featured image from Dall-E, chart from TradingView.com
Bitcoin price started a downside correction from the $64,600 zone. BTC is showing bearish signs and might continue lower below $61,200. Bitcoin failed to stay above $64,000 and extended losses. The price is trading below $62,800 and the 100 hourly simple moving average. There was a break below a bullish trend line with support at $62,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses if it stays below the $62,500 and $62,200 levels. Bitcoin Price Dips Again Bitcoin price failed to clear the $64,500 resistance zone. BTC started a downside correction and declined below the key support at $63,500 to enter a bearish zone. There was a move below the 50% Fib retracement level of the upward move from the $59,070 swing low to the $64,613 high. Besides, there was a break below a bullish trend line with support at $62,500 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $62,500 and the 100 hourly simple moving average. If the price remains stable above $61,500, it could attempt a fresh increase. Immediate resistance is near the $62,000 level. The first key resistance is near the $62,200 level. A close above the $62,200 resistance might send the price further higher. In the stated case, the price could rise and test the $64,000 resistance. The next resistance could be near the $64,500 level. Any more gains might send the price toward the $66,000 level. The main hurdle for the bulls could be $66,500. Downside Extension In BTC? If Bitcoin fails to rise above the $62,500 resistance zone, it could start another decline. Immediate support is near the $61,200 level or the 61.8% Fib retracement level of the upward move from the $59,070 swing low to the $64,613 high. The first major support is near the $60,950 level. The next support is now near the $60,200 zone. Any more losses might send the price toward the $59,000 support in the near term. The main support now sits at $58,500, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $61,200, followed by $60,200. Major Resistance Levels – $62,500 and $64,000.
Bitcoin is holding above $62,000 after the massive drop that defined last week’s market action and erased months of recovery progress in a matter of days. The price is stabilizing — but analyst MorenoDV has published a demand analysis that places the current market conditions in a historical context that makes the stability feel considerably more fragile than the held price level suggests. Related Reading: XRP Just Printed A Rare Binance Signal As Market Volatility Accelerates Bitcoin demand has entered one of its most extreme contraction regimes since 2019. The 30-day growth of combined spot and perpetual futures demand has fallen toward -650,000 BTC — a threshold that has been reached only three times across the chart’s entire history. The rarity of the reading is the first signal that the current environment is not a routine demand slowdown but something structurally more severe. The architecture of the contraction is what makes MorenoDV’s analysis particularly significant. Spot demand and perpetual futures demand are contracting simultaneously — meaning the weakness is not isolated to speculative leverage unwinding. Organic buyers who would normally absorb declining prices through spot purchases and derivatives participants who express directional conviction through futures exposure are both withdrawing at the same time. The two demand streams that together provide Bitcoin’s marginal buying capacity are disappearing in parallel rather than one offsetting the other. What remains is a market with fewer buyers, less capacity to absorb selling pressure, and a demand structure that has only looked this extreme on three previous occasions in Bitcoin’s modern market history. Three Times in History and the Previous Two Were Not Bottoms Yet The MorenoDV analysis applies the historical framework that prevents the extreme demand contraction reading from being interpreted as automatic capitulation confirmation. The two previous occasions when combined demand fell toward the -650,000 BTC threshold carried specific and instructive implications that the current setup should be evaluated against. Bitcoin Spot and Perpetual Futures Demand Growth | Source: CryptoQuant The first breakdown toward this level occurred before the COVID crash — demand deterioration was already developing before the final liquidity shock arrived. The metric reaching extreme contraction was not the bottom. It was the early warning that preceded the actual capitulation event that followed weeks later. The 2022 bear market showed a similar distinction. Extreme demand contraction reflected deep structural deterioration rather than marking the floor. The subsequent interactions with higher support zones occurred as the market moved through its broader bottoming and rebuilding process — a prolonged sequence rather than a single decisive moment. The current setup therefore resembles the beginning of a final cleansing phase more than a confirmed reversal. MorenoDV identifies the most probable path as an initial expansion in volatility followed by what the analysis describes as price anesthesia — weak momentum, compressed activity, and prolonged sideways action that exhausts remaining participants without delivering the dramatic capitulation event that would provide psychological closure. That phase may prove more damaging than the sell-off itself. Sharp declines create fear but also resolve — they force decisions and clear positions. Extended sideways action at depressed levels erodes conviction gradually, tests patience beyond its limits, and tends to shake out holders who survived the initial drop but cannot endure the silence that follows it. Related Reading: Ethereum OG Nails The Crash: Sells $188M, Buys Back Lower Bitcoin Price Testing Critical Demand Bitcoin is attempting to stabilize above the $62,000 level after one of the sharpest selloffs of the cycle erased the May recovery and drove price back into a critical long-term support region. On the weekly chart, BTC is currently trading directly above the 100-week moving average (red line), which has acted as a major support level throughout previous corrective phases. The fact that buyers stepped in near this area suggests that long-term participants still view the zone as attractive despite the recent weakness. Bitcoin testing key demand level | Source: BTCUSDT chart on TradingView However, the broader technical structure remains fragile. The rejection from the $72,000–$74,000 resistance zone confirmed that previous support has now become resistance. Bitcoin failed to reclaim that range and subsequently broke below the consolidation area that held between March and May, triggering a rapid decline toward the current support region. Related Reading: Why Did Bitcoin Crash? On-Chain Data Points To One Missing Ingredient The key level to watch remains the $60,000–$63,000 region. Holding above it would preserve the possibility of a prolonged base formation. A decisive break below that zone could expose Bitcoin to a deeper retracement toward the mid-$50,000s. To regain momentum, bulls must reclaim the former support zone near $66,000 and eventually challenge resistance around $72,000. Until then, the trend remains defensive despite the recent bounce. Featured image from ChatGPT, chart from TradingView.com
On-chain data shows the RSI of the Bitcoin Stablecoin Supply Ratio (SSR) has dropped to a low of 13, a sign that the stablecoin supply is high relative to the BTC market cap. Bitcoin SSR RSI Has Sharply Gone Down Recently In a new post on X, CryptoQuant analyst Maartunn has discussed the latest trend in the RSI of the Bitcoin SSR. The “SSR” is an on-chain indicator that measures the ratio between the market cap of BTC and the combined valuation of all stablecoins. Related Reading: XRP Could Offer Major Buying Opportunity At $0.90, Analyst Says Stablecoins, digital assets that have their price pegged to a fiat currency, serve a different purpose in the sector than volatile assets like BTC. Generally, investors store their capital in the form of stablecoins whenever they want to avoid the volatility associated with other cryptocurrencies. These holders tend to eventually venture back into BTC and other coins, and when they do, they swap their stables in favor of them. Because of this, stablecoins are often looked at as a representation of the potential “dry powder” waiting on the sidelines for the volatile side of the sector. As the SSR tracks the market cap of Bitcoin against these assets, it essentially tells us about how the value of the number one cryptocurrency compares to this dry powder. In the context of the current topic, the SSR itself isn’t directly of relevance, but rather its Relative Strength Index (RSI), a momentum oscillator tracking the magnitude and speed of recent changes in the metric. Now, here is the chart shared by Maartunn that shows the trend in the Bitcoin SSR RSI over the last few years: As displayed in the above graph, the Bitcoin SSR RSI has witnessed a notable drawdown recently and has entered into the “undervalued” zone. This means that the SSR has declined enough that it may be probable to see a rebound. Currently, the indicator is sitting at a value of 13, which is quite low when compared to the past. “There’s a lot of stablecoin liquidity sitting on the sidelines relative to Bitcoin’s market cap,” noted the analyst. This low has arrived as BTC and other assets have observed a steep bearish trajectory. It now remains to be seen whether investors will start deploying the excess stablecoin capital into the market to buy at these lower prices, potentially helping the assets stabilize. Related Reading: Bitcoin Recovery Needs This To Happen, Glassnode Analyst Reveals In some other news, the recent Bitcoin drawdown has meant that a huge amount of supply has entered into a state of loss. As highlighted by Maartunn in another X post, 52% of the cryptocurrency’s supply in circulation is now underwater. BTC Price At the time of writing, Bitcoin is floating around $62,700, down nearly 10% in the last seven days. Featured image from Dall-E, chart from TradingView.com
Technical analysis of Bitcoin’s price action on the daily candlestick timeframe places the cryptocurrency around the same resistance region where previous relief rallies have failed, turning the current price area into a major decision point for the next phase of the market. At the time of writing, Bitcoin is trading around $62,950, and bulls are trying to stabilize above $60,000 after a recent few days of heavy selling pressure. On-chain analyst VoidOnChain has laid out a precise roadmap that maps the path from current price action, but the roadmap does not promise an immediate recovery. Bitcoin Returns To The Zone Where Relief Rallies Keep Failing The Bitcoin daily chart reveals a pattern of diminishing relief rallies, each one failing at a lower high. Looking at the earlier structure on the chart below, BTC moved through an ascending channel, pushed into a sell zone in late 2025, and then broke down. Related Reading: Has The Bitcoin Price Crash Ended Or Is This Just The Beginning? Analyst Answers The current setup shows a similar sequence, with Bitcoin already rejected from the bull trap level around $82,000 in May 2026 before sliding into the lower range. Since then, Bitcoin has been trending downwards and has broken the lower trendline of the channel. Daily candlesticks since the breakdown have been fully bearish engulfing, and this has caused the Bitcoin price to approach a buy zone below $50,000 that acted as a buy zone in 2023. Interestingly, the roadmap laid out in the chart, as shown below, begins with Bitcoin breaking below $60,000 before a move to the buy zone around $53,000 and then $47,000. What To Expect For The Next Three Months The analyst’s near-term outlook carries a specific sequence: $60,000 as an immediate target, $53,000 as the next key level expected as early as next week, and a deeper flush to $47,000 by July that establishes the ultimate low. This move corresponds to a C wave on the chart, the same as the C wave that played out from January to early February 2026. Related Reading: Here’s Why The Bitcoin Price Is Crashing And What To Expect Next Once the corrective structure completes, VoidOnChain’s roadmap projects a recovery to $87,000 initially, followed by an extension to $151,000 by January 2027. The Bitcoin market is currently split between fear and buying by some savvy traders. Bears controlled the market over the weekend, but selling pressure has started to ease during the week. Strategy also added to the accumulation narrative after announcing a $101.3 million Bitcoin purchase between June 1 and June 7, acquiring 1,550 BTC at an average price of $65,333. The purchase helped calm some concerns that followed Strategy’s earlier Bitcoin sale, which had weighed on market sentiment. Still, many crypto analysts believe Bitcoin has yet to deliver a clear bullish confirmation, and Bitcoin might undergo another crash to an accumulation zone. Featured image from Pixabay, chart from Tradingview.com
Bitcoin’s latest upward move has sparked debate among market participants, and some believe the rally may have little to do with the purchase announcement that received the most attention. While the acquisition is generally viewed as constructive for the broader market, it is not necessarily the type of development that would justify a significant upward move in Bitcoin price. Why The Latest Purchase May Not Be Driving Bitcoin Rally The Bitcoin’s recent move higher is being misinterpreted as a direct reaction to purchase news, when in reality the drivers appear to be more technical in nature. Crypto analyst Aylo has explained on X that the BTC bounce is likely the result of an oversold market finding relief after sweeping key February lows. Related Reading: Bitcoin Supply In Loss Crosses Critical Threshold — Bullish Reversal Next? Another factor supporting the move higher is the easing of concerns surrounding Strategy and its Bitcoin holdings. The company’s recent sale of a relatively small 32 BTC sparked fears that it could become a larger seller in the future. Aylo suggests that while the current low may hold in the near term, it remains plausible that BTC could form a slightly lower low in June before a rally, particularly if the broader equity markets experience further weakness. Any deeper stock market shakeout could temporarily drag the price lower before a more sustained recovery begins. This level will be temporary before Bitcoin sees a low later in the year. Furthermore, the fear that Michael Saylor and Strategy may be forced to liquidate a significant portion of their BTC holdings is likely overstated. The company may need to sell limited amounts to meet specific obligations, but the narrative that a major liquidation event from their supply will be driven more by bearish sentiment. What The Recent Breakdown Could Mean For The Market Bitcoin’s recent price action appears to be following a market structure that has played out before during previous corrective phases. A crypto trader known as Max Trades pointed out that roughly a month ago, BTC was entering a distribution phase of this pattern, and the outlook has since played out with notable accuracy. Related Reading: Bitcoin’s Market Structure Reflects The Influence Of Major Investors In this bear market, BTC first formed an accumulation range, where price consolidated before breaking higher and sweeping out the liquidity above the previous highs. However, instead of continuing its upward trajectory, the asset price has transitioned into distribution. Since then, BTC has experienced a significant decline, falling more than 20% from its previous highs. According to Max Trades, what makes the current setup particularly noteworthy is the comparison to a previous distribution phase that ultimately resulted in substantially deeper downside after the initial breakdown. If the current structure continues to mirror that historical pattern, it could imply that the recent decline is not yet complete. Featured image from Pixabay, chart from Tradingview.com
Crypto analyst Ardi has drawn attention to an interesting dynamic amid the Bitcoin price bounce from a recent low of around $59,000. Based on his analysis, the BTC bottom has likely not formed, with the leading crypto set to fall to new lows. Analyst Explains What Is Going on Amid Bitcoin Price Bounce In an X post, Ardi said that one of the more interesting developments during this distribution range has been the disconnect between retail and larger market participants. He noted that retail has spent months buying every dip as the Bitcoin price declines, thinking that those declines were likely the bottom being handed on a “silver platter.” Related Reading: Bitcoin Trader Says Something Extremely Bad Is Coming Today, Here’s What While retail investors have been buying the dip, mid-sized and institutional participants have spent the same period selling into every bounce. Ardi noted that people with the least capital are absorbing supply from those with the most. He declared that this is not usually how major bottoms are built in bear cycles, suggesting that the bottom is not yet in. Ardi further remarked that institutional-sized traders do not need retail participation to form a bottom for the Bitcoin price. He added that major bottoms are, in fact, formed after retail finally gives up. However, that is not the case at the moment as retail conviction remains high while larger investors are reducing their exposure. The analyst said that it is hard to argue that true capitulation has occurred until the dynamics change. The Bitcoin ETFs have largely contributed to the latest Bitcoin price crash, with these funds seeing record net outflows over the last month. These ETFs have also seen outflows in 15 out of the last 16 trading days, a development that has significantly put downward pressure on the BTC price. BTC About To Reach A Market Bottom In an X post, crypto analyst Ali Martinez said that the Bitcoin price is about to reach a market bottom. He cited technical and on-chain metrics that signal that a major macro accumulation cycle is starting. The analyst noted that the recent pullback has successfully flushed out overleveraged premiums across the board and that this move was accelerated by long-term holders who distributed over $3.25 billion in spot BTC. Related Reading: Bitcoin’s Crash Has Broken Below A 4-Month Support, But There’s Still One More Play Left With the Bitcoin price declining to $59,000, Martinez revealed that over 10.46 million BTC is currently held at a loss. He noted that historically, every time the supply-in-loss metric crosses the extreme 10 million threshold, it has accurately timed macro bottoms. The analyst also pointed to the 1.0 to 0.8 MVRV bands, which suggest that BTC could bottom between $53,900 and $43,150. At the time of writing, the Bitcoin price is trading at around $63,200, up in the last 24 hours, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com
Bitcoin’s crash over the weekend has brought the $60,000 level back into the market conversation, but crypto analyst Merlijn The Trader believes the real opportunity may come at a lower price. Technical analysis comparing the current Bitcoin structure with the 2022 Wyckoff accumulation phase shows that buying the current bounce would be a costly mistake because the real accumulation window has not even opened yet. Bitcoin’s Wyckoff Setup Points Below $60,000 To understand where Merlijn The Trader believes Bitcoin is headed, it helps to understand where it has been. Merlijn’s analysis is built around the Wyckoff accumulation model, using Bitcoin’s 2022 bottoming structure as the reference point. Back in that cycle, Bitcoin formed a spring around $15,500, recovered into the $23,000 region, where eager buyers rushed in, believing the worst was over. However, it was not. The price action then delivered a secondary wave of selling that crushed late buyers before the genuine markup phase began. Related Reading: Analyst Charts Ethereum Long-Term Roadmap To $16,000 – There’s No Need To Panic The analyst believes the 2026 structure is developing in a similar way. His chart shows Bitcoin currently trading around the same stage where the market previously moved through a sign of strength, lost momentum, and later dropped into the spring phase. The important message is that any bounce from the current region may not be the point where traders should become aggressive on their buying. Another important message from the analysis is that the $60,000 level may be misleading. Bitcoin fell below that level during the recent selloff, and it is important as a support because it is close to the 200-week moving average. Bitcoin Price Chart. Source: @MerlijnTrader On X The DCA Zone That Could Matter Most The Wyckoff setup by Merlijn identifies five phases: Phase A stops the downtrend via a selling climax, Phase B builds the cause as institutions accumulate within the range, Phase C delivers the spring, which is a final shakeout below support, Phase D marks up within the range with a last point of support and a sign of strength, and Phase E is the breakout and uptrend. Related Reading: Bad News For Bitcoin: Historical Lows Show The Bottom Actually Lies Below $30,000 Merlijn’s chart places Bitcoin inside this structure in 2026, with the Spring phase still ahead. The analyst’s projection is that a Spring to $50,000 is incoming, followed by a bounce rally to the $65,000-$70,000 range. That bounce, he warns, will once again lure in bulls who will buy into what appears to be a recovery, the same trap that caught investors in 2023. Merlijn places Bitcoin’s dollar-cost averaging zone between $48,000 and $59,000. This range is the part of the chart where he expects the better long-term entries to appear. Therefore patience is required, and the conclusion is that the best time to begin buying Bitcoin may come when fear is strongest inside the $48,000 to $59,000 range, not when it produces its first bounce back above $70,000. At the time of writing, Bitcoin is trading at $62,891.
Bitcoin price started a recovery wave above the $62,500 zone. BTC is consolidating and might aim for more gains if it clears the $64,000 resistance zone. Bitcoin started a recovery wave and climbed above $62,000. The price is trading above $62,200 and the 100 hourly simple moving average. There is a bullish trend line forming with support at $62,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might gain bullish momentum if it settles above the $64,000 zone. Bitcoin Price Recovery Faces Resistance Bitcoin price remained supported above the $60,500 zone. BTC formed a base and settled above $61,500 to start a recovery wave. There was a move above the $62,200 and $62,500 levels. The price even surpassed the 23.6% Fib retracement level of the downward move from the $74,100 swing high to the $59,106 low. However, the bears seem to be active near $64,000. The price is again moving lower below the $63,200 level. Bitcoin is now trading above $62,500 and the 100 hourly simple moving average. Besides, there is a bullish trend line forming with support at $62,500 on the hourly chart of the BTC/USD pair. If the price remains stable above $62,500, it could attempt a fresh increase. Immediate resistance is near the $63,500 level. The first key resistance is near the $64,000 level. A close above the $64,000 resistance might send the price further higher. In the stated case, the price could rise and test the $65,500 resistance. Any more gains might send the price toward the $66,500 level or the 50% Fib retracement level of the downward move from the $74,100 swing high to the $59,106 low. The next barrier for the bulls could be $68,000. Downside Continuation In BTC? If Bitcoin fails to rise above the $64,000 resistance zone, it could start another decline. Immediate support is near the $62,500 level. The first major support is near the $62,200 level. The next support is now near the $61,500 zone. Any more losses might send the price toward the $61,000 support in the near term. The main support now sits at $60,000, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $62,500, followed by $62,000. Major Resistance Levels – $64,000 and $65,500.
Monday’s Bitcoin (BTC) rebound—pushing back above the $63,00 area—has revived a major question: was last Friday’s drop to $59,000 the bottom for BTC? Seeking to answer that, market analyst Ali Martinez released a new technical note on X (formerly Twitter), arguing that Bitcoin appears poised to reach a market bottom while a “major macro accumulation cycle” begins to form. Why The Sell-off Could Signal A Bottom In Martinez’s view, BTC’s decline to its lowest level since 2024 served as an important cleansing function for the market—effectively shaking out “overleveraged premiums” across the board. That type of flush, Martinez argues, is often what makes bottoms possible: it removes leverage stress and forces late and speculative positions to unwind. Related Reading: Bitcoin Recovery Needs This To Happen, Glassnode Analyst Reveals A central part of his explanation is the role of long-term holders. Martinez claims that long-term investors distributed more than $3.25 billion worth of spot Bitcoin during the downswing. He says this distributed supply temporarily raised exchange reserves, which can translate into increased potential selling pressure as coins move closer to trading venues. Supporting that point, Martinez also cites data indicating that over 54,000 BTC have moved onto trading platforms over the past two weeks, which he frames as a further contributor to the selling dynamic. Next Bitcoin Targets Even with Monday’s recovery, Martinez emphasizes what happened at the downside. He points out that following the move down to $59,000, more than 10.46 million BTC are currently held at a loss. In his technical framework, that’s a key threshold to watch. Martinez notes that historically, when the “supply-in-loss” metric crosses the extreme 10 million BTC level, it has helped time macro bottoms with notable accuracy. From there, Martinez turns to the MVRV Pricing Bands, which he describes as offering “geometric targets” for where Bitcoin accumulation windows tend to mature. Related Reading: Dogecoin Will ‘Pump Hard’ After This Happens, Analyst Clocks Generational Entry According to his post, the most reliable accumulation periods historically occur when Bitcoin settles within the 1.0 to 0.8 MVRV bands. Martinez says those bands align with two specific target areas: approximately $53,900 and $43,150. In other words, if the bottom is indeed approaching or forming now, he suggests the market may gravitate toward those zones as the next stages in a broader consolidation-and-accumulation process. Featured image created with OpenArt; chart from TradingView.com
The lead research analyst at Glassnode has highlighted how the Bitcoin supply clustered at the top levels might have to shift down before a sustained recovery can take shape. Bitcoin Cost Basis Distribution Shows Massive Supply Above $80,000 In a new post on X, Glassnode lead research analyst CryptoVizArt has discussed how the Bitcoin supply is looking from the perspective of the Cost Basis Distribution (CBD). The CBD is an on-chain indicator that tells us about the amount of BTC that was purchased at each of the levels that the cryptocurrency has visited during its history. Below is the chart for the metric shared by CryptoVizArt. Related Reading: Dogecoin Tests Channel Floor Again: Breakdown Or Rebound? As is visible in the graph, there is a decent amount of Bitcoin supply that was purchased at recent price levels. This supply cluster has built up as the asset has consolidated in the region since February. While this cluster isn’t small, it’s still less dense than some other zones. From the chart, it’s apparent that there are regions above $80,000 that host the break-even level of an extreme amount of supply approaching the 495,000 BTC mark. These zones extend up to the top levels from the 2025 bull market. Earlier, the levels near $126,000 used to be even more dense, but as the digital asset sector has gone through this downturn, supply has changed hands at lower levels, weakening these clusters. However, the zones continue to be dominant relative to the clusters below $80,000. “The Cost Basis Distribution heatmap shows a dense supply cluster in the $80k–$126k range, representing coins still held by buyers near cycle highs,” noted the analyst. Naturally, all of these holders are in a notable amount of unrealized loss right now. Generally, underwater investors act as an impediment to price surges as they sell near their break-even. This effect could in part be what capped out the recovery rally in May. CryptoVizArt explained: For a sustained recovery to take shape, this supply needs to gradually migrate into new buyers’ hands at lower cost basis levels. As that wall softens, the overhang pressure eases and demand has room to build conviction. In the past, the process has often taken some time to occur for Bitcoin. “This transition can be achieved through deeper correction and/or bear market continuation,” said the Glassnode researcher. Related Reading: Bitcoin Price Back At $63,000 Despite 1.2 Million BTC Absorption It now remains to be seen how the CBD will develop for Bitcoin in the near future, particularly in terms of whether the top buyers finally capitulate to new investors. BTC Price Bitcoin plummeted to $59,000 last week, but the asset opened on Monday with some recovery as its price is now floating around $63,200. Featured image from Dall-E, chart from TradingView.com
Following Bitcoin’s rebound from last week’s dip below $59,000, the market is now weighing whether the recent price crash has finally run its course or if a deeper correction is still ahead. While the recovery has provided some relief across the crypto market, analysts warn that Bitcoin remains in a fragile position as weak demand, cautious investor sentiment, and broader market uncertainty continue to weigh on the price action. According to market experts, Bitcoin’s outlook remains largely bearish despite the short-term bounce. However, analysts also point to a potential silver lining in the current downturn that may benefit long-term investors. Bitcoin Price Set For Massive Crash This Summer Crypto market expert Aralez has issued a fresh bearish forecast for Bitcoin, suggesting that the ongoing downtrend has not yet ended. In an X post on June 6, the analyst said Bitcoin’s decline has just begun, indicating that the recent drop below $60,000 was only the early stage of the bear market. Related Reading: Analyst Who Predicted the Bitcoin Crash Says Price Could Reach $40,000, Here’s When Aralez noted that since May 2026, he has consistently predicted a decline below $60,000, believing that Bitcoin would eventually take out local lows as bearish pressure mounts. As he forecasted, the $60,000 to $63,000 BTC price range has now been decisively lost. With this key support broken, the analyst warned that the next downside move could be really aggressive. Using a detailed chart to support his outlook, Aralez outlined a bearish roadmap for Bitcoin’s price this summer. The chart shows that Bitcoin traded within an ascending channel between April and May but ultimately broke below the lower boundary, triggering a prolonged downtrend through late May and early June. Notably, Aralez projected that Bitcoin’s next move will likely be a short-term bounce toward the $71,000 support zone. After Bitcoin retests this zone, he said a major distribution phase is likely to begin. During this stage, the cryptocurrency could see an impulsive sell-off toward $46,000 to $48,000, representing a 25% to 28% drop from current levels above $62,000. Aralez noted that a decline to this lower range will lead to a slow bottom formation, officially resetting the broader market cycle. He cautioned investors not to assume that the bottom is already in, emphasizing that current market data and conditions suggest otherwise. The analyst also confirmed that Bitcoin’s bear market is still ongoing. He urged investors and traders to prepare ahead and avoid major mistakes now more than ever. Analyst Sees Accumulation Before Next Bitcoin Rally In his X post, Aralez outlined a silver lining to his bearish outlook, noting that once Bitcoin reaches a bottom, a significant accumulation phase is likely to follow. He said this stage could present a strong long-term opportunity for investors, as valuations stabilize and selling pressure gradually fades. Related Reading: Analyst Predicts When Bitcoin Price Will Reach $100,000 In 2026 Based on historical price movements, an accumulation phase after a cycle bottom often sets the foundation for the next major trend reversal. Building on this, Aralez noted that after the accumulation phase, an explosive expansion could follow. This would signal a return of strong bullish momentum, with prices potentially accelerating sharply while investors who had bought at the bottom could see major gains. Featured image from Freepik, chart from Tradingview.com
Despite growing optimism that Bitcoin has reached a cycle low, historical cycles suggest another leg down could still be ahead. While rising institutional involvement may reduce the severity of the downturn, a chart shared by a top crypto analyst suggests the cryptocurrency could still be headed for a bottom below $30,000 before a sustained recovery begins. Bitcoin Cycle Pattern Points To Possible Deeper Low The analyst explains that Bitcoin has followed a repeating pattern across major market cycles, where strong rallies are followed by very deep price declines. In previous cycles, Bitcoin fell about 83.90% after the 2017 peak and about 77.91% after the 2021 peak. These past moves are used as a guide for understanding the current market structure. Related Reading: Analyst Calls Out Stagnant Logic Being Used On XRP, Predicts When Price Will Rally To $300 In the present cycle, Bitcoin climbed above $120,000 during the 2025 bull run before entering a decline. At the time of the analysis, the price was in the low-$60,000 range. The main point being made is that if Bitcoin were to fall by a similar percentage as in earlier cycles, the final bottom could be much lower than current levels. A similar type of decline, around 78.92%, would place a potential low below $30,000. This is not presented as a prediction, but as a possible outcome if the market follows its historical pattern. The analyst also highlights that Bitcoin tends to move within a long-term upward channel, with past bear-market lows forming near the lower edge of that range. Based on this structure, the argument suggests that the market may still be in the middle of its correction phase, and a deeper drop is still possible before a final bottom is reached. Institutions Change The Equation Yet the analyst does not believe history will repeat perfectly. While the chart illustrates that past cycles often erased close to 80% of value from their highs, he argues that the market structure has evolved. Unlike earlier cycles, the current environment includes substantial institutional participation. Large investment firms, exchange-traded funds, and corporate treasury allocations have introduced new sources of demand that were largely absent during the 2018 and 2022 bear markets. From the analyst’s perspective, that growing institutional presence should gradually reduce volatility. Related Reading: Pundit Says Dogecoin Is About To Do Something Insane, Here’s What For that reason, the analyst expects the eventual drawdown to be closer to 50%–60% rather than the historical average near 80%. Based on that framework, a bottom of around $52,000 becomes the preferred target rather than a collapse below $30,000. The outlook also includes a bold forecast that October could mark the beginning of a new bull market. For now, the chart presents two competing possibilities. Historical cycle behavior suggests a destination below $30,000, while the analyst’s adjusted model points to a shallower decline near $52,000. The gap between those outcomes highlights the question dominating Bitcoin’s market today: will institutional capital rewrite the rules, or will history have the final word? Featured image created with Dall.E, chart from Tradingview.com
Over the weekend, the Bitcoin price suffered a major crash, moving below $60,000 for the first time in this cycle. In contrast, there has been some recovery, with the price moving above $62,000 on Sunday, as investors moved back into the market. However, this recovery seems to only be a stop-gap for now because, according to one analyst, there is something bad coming Bitcoin’s way and it’s going to happen today. Is A Black Monday In The Cards? Analyst WhaleTwits on the X (formerly Twitter) platform has sounded the alarm for what could be a Monday to remember for Bitcoin. This comes after the crash toward $59,000 last week as the market moved into the bearish territory once again, suggesting that the worst is not over. Related Reading: Dogecoin Could Rally 300x And Cross $20, Analyst Claims According to the crypto analyst, something bad is expected to happen to Bitcoin on Monday, which is today. However, this does not seem to be ‘bad’ in the sense that everyone expects. Instead, the crypto analyst is warning investors from panicking during this time. WhaleTwits explains that large investors and institutions are actually using this time during which investors are panicking to load up on their bags. If this is the case, it means that they are actually expecting the Bitcoin price to bottom soon and start recovering again. Could Bitcoin Stage A Repeat Of Silver’s Run? Talking about how high the Bitcoin price could climb, the analyst points out the Silver performance over the last year. Silver had seen an historical 600% run that left the market in awe, despite its large market cap. Pointing to this, the analyst suggests that the Bitcoin rally could be even more notable. Related Reading: XRP Pundit Says Pay Attention To This Pattern That Everyone Is Missing The chart shared with the post suggests that the Bitcoin price will bottom above $50,000. Once this bottom is confirmed, then the crypto analyst expects the pioneer cryptocurrency to see what they refer to as a “Parabolic Mark-Up.” The upper end of this trend puts the Bitcoin price at almost $500,000 before hitting a top. As for the timeframe, the chart shows that this will play out between 2026 and 2028, giving a 2-year timeframe for Bitcoin to complete what would no doubt be a historical move. Featured image from Dall.E, chart from TradingView.com
Bitcoin price started a recovery wave above the $62,000 zone. BTC is consolidating and might aim for more gains if it clears the $64,500 resistance zone. Bitcoin managed to form a base above $60,000 and started a recovery wave. The price is trading above $62,500 and the 100 hourly simple moving average. There was a break above a bearish trend line with resistance at $61,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might gain bullish momentum if it settles above the $64,500 zone. Bitcoin Price Eyes Fresh Gains Bitcoin price remained supported above the $60,000 zone. BTC formed a base and settled above $61,200 to start a recovery wave. There was a move above the $62,000 and $62,200 levels. Besides, there was a break above a bearish trend line with resistance at $61,500 on the hourly chart of the BTC/USD pair. The bulls were able to push the price above the 23.6% Fib retracement level of the downward move from the $74,100 swing high to the $59,107 low. However, the bears are active near $64,000. Bitcoin is now trading above $62,500 and the 100 hourly simple moving average. If the price remains stable above $62,000, it could attempt a fresh increase. Immediate resistance is near the $64,500 level. The first key resistance is near the $65,000 level. A close above the $65,000 resistance might send the price further higher. In the stated case, the price could rise and test the $66,500 resistance or the 50% Fib retracement level of the downward move from the $74,100 swing high to the $59,107 low. Any more gains might send the price toward the $68,500 level. The next barrier for the bulls could be $70,000. Another Decline In BTC? If Bitcoin fails to rise above the $64,500 resistance zone, it could start another decline. Immediate support is near the $62,800 level. The first major support is near the $62,500 level. The next support is now near the $62,000 zone. Any more losses might send the price toward the $61,500 support in the near term. The main support now sits at $61,200, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $62,500, followed by $62,000. Major Resistance Levels – $64,500 and $66,500.
After days of steep downward movement, the price of Bitcoin appears to have found a somewhat reliable anchor around the $60,000 region. However, recent on-chain data suggests that the premier cryptocurrency might not be down for long, with a bullish reversal seemingly on the cards. Is BTC Price Bottom Already Forming? In a June 7th post on the X platform, crypto analyst Ali Martinez revealed that the price of Bitcoin might have just reached a major bottom in this cycle. This evaluation is based on changes in the Bitcoin Supply In Loss metric, which measures the amount of BTC in circulation that was last moved at a price above the current market value. Related Reading: Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline This on-chain metric provides insight into how much pressure investors are under (or how deeply underwater they are) as they hold their Bitcoin at an unrealized loss. Hence, the Supply In Loss indicator, near unprecedented levels, is a signal of systemic fear and an impending shift in Bitcoin market dynamics. Martinez noted that the flagship cryptocurrency formed major cycle bottoms in the past when more than 10 million BTC were held at a loss. According to Glassnode data highlighted by the analyst, Bitcoin has breached this threshold, with 10.46 million coins (more than half of the circulating supply) underwater. As observed in the chart above, the Bitcoin price saw a bullish reversal in late 2018, as the supply in loss crossed this 10 million threshold. A similar pattern could be seen for BTC’s price when its Supply In Loss climbed to this mark around 2022. Martinez explained: I believe this is an important signal because selling pressure often begins to fade as fewer investors are willing to realize losses, increasing the probability of a market bottom forming. Based strictly on historical context and patterns, there is a high likelihood that a price bottom is forming for BTC at current levels. However, an important factor to discount is that the Bitcoin circulating supply was markedly lower in both periods (around 17.4 million and 19.2 million towards the end of 2018 and 2022, respectively). Lower circulating supply could mean the Supply In Loss might edge slightly higher this time, suggesting the BTC price could see further downside. This was evident in 2015 (when the circulating supply was much lower), when the Supply In Loss didn’t reach the 10 million threshold before a bullish reversal. Bitcoin Price At A Glance As of this writing, the price of BTC stands at around $62,746, reflecting a 2.5% jump in the past 24 hours. Related Reading: Ethereum Breakdown Warning: This Key Level Could Trigger More Downtrend Featured image from iStock, chart from TradingView
Bitcoin’s bearish structure over the past few weeks has raised clear concerns about the flagship cryptocurrency’s future. Amid these concerns are speculations concerning its trajectory, some of which point to bottoms as low as $25,000. However, an on-chain analyst recently took to the social media platform X to explain why Bitcoin’s fall to $25,000 is an unlikely scenario in its current cycle. Electrical Cost Model Points To Potential Bitcoin Bottom In a June 6 post on X, crypto analyst Ted Pillows implied that the Bitcoin price might see further declines before a definitive bear market bottom is established. This conjecture is based on the Bitcoin Electrical Cost model. For context, the model estimates Bitcoin’s fundamental production costs by measuring the electricity required to mine new BTC. Because mining operations tend to consume substantial amounts of energy, the metric is often used as a proxy for Bitcoin’s inherent value. This is because it represents the minimum price at which miners can sustainably operate over the long term. Related Reading: Analyst Who Predicted the Bitcoin Crash Says Price Could Reach $40,000, Here’s When In line with historical data, Pillows explained that Bitcoin bear markets have never fallen below this Electrical Cost, despite the severe drawdowns seen during these periods. On the contrary, bear markets have often found bottoms near this crucial price level. Pillows pointed out that Bitcoin’s current Electrical Cost sits at approximately $48,694 — a threshold still somewhat far from Bitcoin’s current market price. According to the analyst, this suggests that the BTC price could find support near $50,000 if the current downturn continues. However, Pillows highlighted a caveat in this analysis, stating that it would take an extraordinary global event for this support zone to be broken. In the event that the world is hit by a recession or a pandemic as severe as COVID, the Bitcoin price could temporarily fall below its estimated production cost due to panic-driven sales. Silent BTC Accumulation On Binance Underway As Outflows Steadily Climb In a Quicktake post on CryptoQuant, analyst CryptoOnchain highlighted an interesting contradiction ongoing within the Bitcoin market. According to the on-chain analyst, BTC accumulation events have been underway on Binance. The analyst noted that technical indicators — notably, the RSI (14) and the EMA50/200 — are telling a clearly bearish story. RSI readings, for example, have fallen to extreme levels near 6.4, and the EMA50/200 currently displays a “Death Cross” pattern. At the same time, Binance’s Exchange Netflows reads as negative (-0.58σ), indicating that Bitcoin is leaving Binance consistently—an event that further suggests its holders are accumulating BTC rather than simply panic-selling. But then CryptoOnchain explained that the unignorable threat of a long squeeze still looms, given the high Open Interest. As of this writing, the price of BTC stands at around $602,388, reflecting an almost 3% jump in the past 24 hours. Related Reading: Bitcoin Testing A Critical Support After Sharp Market-Wide Selloff Featured image from iStock, chart from TradingView