While the price has since rebounded and is currently hoverin

While the price has since rebounded and is currently hovering around $68,000, the $60K support zone remains the critical structural pivot for the market.​Why the $60,000 Support Matters
​The $60K level is not just a psychological round number; it is a convergence of several technical and fundamental layers:
​200-Week Moving Average: This long-term trend indicator currently sits near the $58,000–$60,000 range. Historically, this has acted as a "generational bottom" for Bitcoin during bear market cycles.
​Whale Accumulation: On-chain data shows that "whales" (large-scale investors) scooped up over 40,000 BTC during the recent dip to $60K, signaling that institutional players view this as a high-value entry zone.
​Deleveraging: The drop to $60K cleared out approximately $9 billion in liquidations and wiped out nearly 45% of the leverage (Open Interest) that had built up since the October 2025 peak of $126,000.
​Current Market Sentiment
​Fear & Greed Index: The index has hit "Extreme Fear" levels (dropping as low as 7–11), which contrarian analysts often view as a sign that the bottom may be in or very close.
​Resistance Hurdles: Despite the bounce, Bitcoin is struggling to reclaim the $72,000 level. Analysts suggest that until $72K is flipped back to support, a retest of the $60,000 panic area remains a highly probable scenario.

.css-1iqe90x{box-sizing:border-box;margin:0;min-width:0;color:#EAECEF;}While the price has since rebounded and is currently hovering around $68,000, the $60K support zone remains the critical structural pivot for the market.

While the price has since rebounded and is currently hovering around $68,000, the $60K support zone remains the critical structural pivot for the market.