Bitcoin slipped below $60,000 over the weekend, trading around $59,940 on Sunday, down nearly 7% for the week. The decline was driven by continued outflows from U.S. spot Bitcoin ETFs, a stronger U.S. dollar, and hawkish signals from the Federal Reserve. Investors have also shifted capital toward AI-driven semiconductor stocks, while the broader tech selloff added further pressure on crypto markets. Looking ahead, markets will be watching whether ETF flows stabilise and demand improve in the third quarter, or if the weakness seen in the first half of the year continues.
At the time of writing, BTC was trading at $59,500.
BTC, on the daily time frame, gave a relief rally from $60,000 to $82,850 (with declining volumes). However, the bulls failed to maintain their grip on the asset, as the price faced resistance at the 200 EMA and witnessed a sharp fall. BTC plunged by almost 28%, making a recent low of $59,115. The asset has given a weekly close just below the crucial support level of $60,000 and is consolidating around it. If it sustains above this support, then we can expect some relief rally. However, if it fails to do so, the price may fall further and test the $52K level.
Also Read: What is Uniswap: A Complete Guide!
Key Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $52,000 | $60,000 | BTC | $65,000 | $82,500 |
Unravel everything that you need for your crypto journey via ZebPay blogs. Get started today and join 6 million+ registered users on ZebPay!
