BTC tests key support levels after falling through $61K, activating $270 million in bids as traders watch $60,500.
Bitcoin fell below $63,000, consolidating after losing key support levels and triggering $270 million in buy orders near $61,000. The drop followed a rejection near $66,000 earlier this week, with momentum indicators cooling from overbought levels.
Traders are monitoring $60,500 and $61,500 as critical support zones, while $63,500 and $64,000 remain potential resistance points. Data shows 8,366 BTC in bid liquidity was added between $61,500 and $60,500, though much of it has already been absorbed.
Analysts remain cautious, with some expecting further downside before a potential rebound. The price remains above the June low near $60,500, but selling pressure persists.