If Bitcoin Falls Below $60,000…

Bitcoin (BTC) is currently testing a key support zone between $60,000 and $63,000, with analysts warning that failure to hold the $60,000 level could lead to a drop toward $47,000. According to The Block, Andri Fauzan Adziima, Head of Research at cryptocurrency exchange Bitrue, said that if Bitcoin successfully holds support, short sellers could be hit by negative funding rates, potentially triggering a short squeeze. He added that improving macroeconomic conditions and a resumption of ETF-driven inflows could further fuel such a move.

On the other hand, if Bitcoin falls below $60,000 amid worsening macroeconomic conditions, the price could slide to the mid-$50,000 range or even as low as $47,000. In that scenario, even long-term investors may capitulate and turn to selling, potentially deepening the market bottom, he explained.

Meanwhile, after Bitcoin gave up the $63,000 level today, Presto Research analyst Min-gyo Jung said the decline was driven less by a specific factor and more by a broad deterioration in investor sentiment across the crypto market. In the short term, he noted, macro-related headlines such as U.S. tariff issues and escalating tensions between the United States and Iran are heightening investors’ risk-off sentiment.

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