Sellers keep control of nearly $60,000
Bitcoin (BTC) fell back below $64,000 after Wall Street opened on Thursday, as bulls suffered weekly losses of 13.5%. The move came amid a broader slowdown in the crypto market that has wiped out more than $2 trillion in value since October 2025, according to data from the Kobeissi Letter.
Data from TradingView showed that BTC price strength was barely recovering after falling to its lowest levels since early February. The daily chart revisited the 200-week simple moving average (SMA) trendline, currently at $61,626. This trend echoes what some traders describe as classic bear market behavior from 2022.
Trader Daan Crypto Trades noted on X that the focus is now on $60,000 and its ability to act as support. “Key area here in the $60,000 minimum with the Weekly 200MA as well,” he added. The token’s price action looked like a continuation of the decline after a bearish retest in the $80,000 region.
On shorter time frames, commenter Exitpump observed that sellers still have the upper hand. “Every bounce is met with a wall of lawsuit demands on the order book of Binance criminals,” they wrote. “As buyers start to push, more supply appears and keeps prices stable. »
Bitcoin Price Replay 2022
At over 13%, BTC/USD is facing its worst week of 2026 so far, according to CoinGlass data. Analyst Rekt Capital highlighted the ongoing four-year price cycles. “On June 13, 2022, Bitcoin reached the 200-week SMA during its bear market correction,” he pointed out, suggesting that the current move could follow a similar scenario.
The broader market capitalization, as tracked by Cointelegraph and TradingView, shows a sharp decline over the past week. Although some see parallels with the economic downturn of 2022, the question remains whether $60,000 can serve as a floor or if further losses are to come.
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