Bitcoin touched new lows under $64,000 as market selling reached a historic level, and analysts warn that the bottom is not in. Does data support analysts’ sub-$60,000 prediction?
Bitcoin (BTC) has fallen 13% over the past four days, sliding to $63,844 from $79,300. It is currently trading below $69,000, which is the 2021 bull market high, a level many see as a support level.
The drop was matched by a sharp decline in futures activity, with BTC’s open interest falling by more than $10 billion over the past seven days.
Analysts are now focusing on the long-term technical zones and onchain indicators that may signal a major turning point for BTC.
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