Bitcoin Trades Below $60,000 Amid Weak Buying Momentum

Bitcoin's price is fluctuating near the critical resistance level of $60,000 as investors closely monitor market indicators for signs of future volatility.

Azcnews Bitcoin Trades Below $60,000 Amid Weak Buying Momentum

Key Market Indicators

The total market capitalization of cryptocurrencies currently stands at $2.18 trillion, with Bitcoin maintaining a dominant 53% share, according to data from IntoTheBlock. Additionally, the supply of stablecoins has surged to $173.46 billion. However, the persistent lack of significant demand has prevented BTC from experiencing substantial price increases. Since May 21st, Bitcoin has struggled to surpass the $71,500 mark, and a recent sharp sell-off on July 29th pushed its price below $70,000.

Bitcoin Chart
Bitcoin Chart

Will BTC Break Free from This Stalemate?

Bitcoin has been trading at about 15% below its recent local peak, fluctuating between $56,000 and $62,000 over the past 11 days. Historical precedent from significant price movements suggests that recoveries from local peaks typically take between 40 to 52 days. Given the current downtrend, which has persisted for 21 days since the last drop, BTC might continue to follow this pattern for another 20-32 days unless it achieves a daily close above $62,500.

Bitcoin’s recent price action has been characterized by significant volatility and a formidable resistance at the $60,000 level. While some market indicators suggest a potential recovery, a sustained upward move will require BTC to overcome its current barriers. Investors are advised to monitor key price levels and broader market trends closely to make informed decisions about future investments.

Love

0.0/5

Love
  1. Avatar of zoritoler imol
    zoritoler imol

    But wanna input that you have a very nice web site, I enjoy the pattern it actually stands out.

Comments are closed.

Latest

Coinbase And Strategy Post Record Q3 Profits

News | Bitcoin | Editor Choice

Coinbase and Strategy Post Record Q3 Profits, Continue Aggressive Bitcoin Accumulation

Both Coinbase and Strategy Inc. reported record profits for Q3 2025 and significantly increased their Bitcoin holdings, signaling a growing wave of institutional accumulation despite BTC’s price hovering around $107,000.

Binance.us Accused Of Political Favoritism After Listing Trump Family’s Usd1 Token

News | Editor Choice | Policy & Regulations

Binance.US Accused of Political Favoritism After Listing Trump Family’s USD1 Token

Binance.US is facing a wave of fierce criticism after listing the Trump family’s USD1 stablecoin, just a week after Donald Trump’s controversial pardon of Changpeng Zhao — a move many see as a “political favor” between the White House and the crypto world.

Spacex Moves $31 Million In Bitcoin, What Is Elon Musk Planning

News | Bitcoin | Editor Choice

SpaceX Moves $31 Million in Bitcoin, What Is Elon Musk Planning?

SpaceX’s sudden $31 million Bitcoin transfer within just one week has sent shockwaves through the market, sparking speculation that Elon Musk may be preparing for a mysterious strategic move.

21shares Files For Hype Etf, While Bitwise’s Solana Etf Records

News | Altcoin | Editor Choice

21Shares Files for HYPE ETF, While Bitwise’s Solana ETF Records

The crypto ETF market is heating up as 21Shares and Bitwise roll out new products, signaling Wall Street’s growing interest in altcoins.

Bitcoin Eyes A Hopeful November Amid Fed Division On December Rate Cut

News | Bitcoin | Editor Choice

Bitcoin Eyes a Hopeful November Amid Fed Division on December Rate Cut

Following the Federal Reserve’s widely expected rate cut, the crypto market has yet to show signs of recovery as internal divisions over a potential December easing weigh on sentiment, making Bitcoin’s short-term outlook more cautious than ever.

Screenshot 2025 10 20 091338