BTC/USD falls to $62,570 amid warnings a sub-$63,220 weekly close could trigger further declines.
Bitcoin extended losses Friday, trading at $62,570 as traders brace for a potential breakdown. The drop comes despite US equities hitting record highs, with the S&P 500 and Nasdaq up slightly in early trading.
Analysts flagged $63,220 as a critical level for the weekly close. A finish below that mark could signal deeper losses, according to market commentary. Bitcoin has struggled to mirror the resilience of traditional risk assets, even as US inflation data eased rate-hike concerns.
The next catalyst for markets will be upcoming PCE inflation figures, which could sway sentiment across asset classes. BTC/USD remains near August lows, down 1.3% on the day.