Bitcoin 
Ethereum 
Tether 
BNB 
USDC 
XRP 
Solana 
TRON 
Lido Staked Ether 
Figure Heloc 
Bitcoin fell below the $60,000 level for the first time since early February, extending to a low of $59,743 and reaching its weakest level since October 2024. The break lower increased bearish momentum, but buyers stepped in near the lows, helping to push the price back above the $60,000 threshold. Bitcoin is currently trading around $60,834.The rebound is encouraging for buyers, but the technical damage from the move to a new multi-month low remains. On the topside, the next key resistance area comes in near $65,000, a level that served as an important swing low on March 28. A move back above that area would be needed to improve the broader technical outlook and give buyers more control in the short term.On a side note, Michael Saylor company Strategy (formerly Microstrategy) which is a equity proxy for bitcoin, is testing a support area between $116.49 and $101.39. The low price today has reached $115.87. It is currently trading at $118.53 down -8.4% on the day.Moving into the lower floor area and below it would make the technical picture even more bearish. On the top side it would take a move back above the 100 hour moving average at $148.50. Absent that, and the sellers are still in more control.Meanwhile stocks continue to sink despite the fall in oil prices. The NASDAQ index is now down -2.66%. The S&P index is down -1.64%.For the NASDAQ, is looking to test a key support cluster support on the hourly chart near the 26,048 area. That level corresponds with the 200 hour moving average, the 38.2% retracement of the move up from the April 22/23 lows, and a swing level. Moving below that level would have traders next targeting the 50% midpoint and swing level near 25,694.60. The low price today has reached 26,103.91 which is still shy of the aforementioned level near 26,048.
This article was written by Greg Michalowski at investinglive.com.
đź’ˇ DMK Insight
Bitcoin’s dip below $60,000 is a critical moment for traders to assess market sentiment. The drop to $59,743 marks a significant psychological level, and while buyers have managed to push it back above $60,000, the bearish momentum is concerning. This level has historically acted as a support zone, and its breach could signal further declines if selling pressure continues. Traders should watch for volume spikes around this level; a sustained break below could trigger stop-loss orders and accelerate selling. Conversely, if Bitcoin can hold above $60,000 with strong buying volume, it may indicate a potential reversal. Keep an eye on correlated assets like Ethereum, which often follow Bitcoin’s lead, as well as broader market indicators like the S&P 500, which can influence risk appetite. The real story is whether this rebound can gain traction or if it’s just a temporary relief rally. Watch for a daily close above $60,500 to confirm bullish sentiment, while a close below $59,500 could signal a deeper correction.
đź“® Takeaway
Monitor Bitcoin’s ability to hold above $60,000; a close below $59,500 could trigger further selling pressure.
