Bitcoin Price Is Showing Early Signs of Recovery But 100 SMA Is The Key
Bitcoin price found support near the $60,600 zone. BTC is recovering but the bears might remain active near the $63,200 resistance zone.
Bitcoin has experienced one of its sharpest corrections in recent years, slipping below the $65,000 level and reaching its lowest price since October 2024. The decline reflects persistent selling pressure across the crypto market, accompanied by deteriorating macro sentiment, reduced liquidity, and cautious positioning among institutional participants. Recent price action suggests the market is entering a critical phase where confidence, rather than technical levels alone, may determine the next directional move.
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