BTC holds above $60,000 support, eyeing $92,630 amid Nasdaq’s 4% drop and deeper correction signals.
Bitcoin (BTC) rallied 6.5% from a low near $59,100 to $62,950 on Sunday, defending the $60,000 psychological support as the Nasdaq faced a 4% decline—the steepest since April 2025. Traders view BTC’s resilience as a potential catalyst for a move toward $92,630 if it sustains above key moving-average levels.
The Nasdaq’s correction risks, hinting at a possible 10% drop, contrast with BTC’s technical strength. Analysts note BTC’s hold above its 200-week simple moving average ($61,880), a level that previously marked bottoms in 2020, 2018, and 2015. The 50-week SMA near $92,630 is now the next upside target if the trend persists.
Market sentiment suggests risk capital may shift from equities to BTC if the Nasdaq underperforms further. BTC’s outperformance amid tech sector weakness has fueled optimism for a break above $90,000 in the near term.