Bitcoin Slides 5% as Bears Tighten Grip — Is $62K the Next Stop?
Bitcoin is under renewed pressure tonight and the mood in the crypto market has shifted fast.
The world’s largest cryptocurrency, Bitcoin , has dropped roughly five percent after failing to hold above the critical 68,000 dollar level. What looked like stability just days ago has now turned into clear bearish momentum and traders are watching key price zones very closely.
Here’s what happened. Bitcoin tried to push higher and maintain strength above 67,000 dollars, but buyers simply could not sustain that move. Selling pressure built quickly. The price slipped below 66,500, then broke under 66,000 and even briefly dipped under 65,000. At one point, it fell to just above 64,000 before attempting a small bounce.
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Technically, this matters. The price has broken below a previous upward trend line and it is now trading under important short-term averages. Momentum indicators are flashing weakness and that tells us sellers currently have control. In simple terms, the bulls tried to defend higher ground, but the bears pushed them back.
Now the big question is whether this is just a temporary pullback or the start of a deeper correction. Immediate support is sitting around the 64,200 to 64,500 range. If that level fails, analysts are eyeing 63,500, then 62,850 and possibly 62,000 as the next major floor. A break below 62,000 could shake confidence significantly and trigger more aggressive selling.
On the upside, Bitcoin would need to reclaim 66,000 and then 66,400 to show real recovery strength. If it can close firmly above that area, we could see a retest of 67,000 and potentially 68,000 again. But for now, the recovery looks fragile.
What makes this especially interesting is the broader backdrop. Bitcoin has recently been trading around 68,000 despite global macro uncertainty, including renewed debates over tariffs and economic policy in the United States. Normally, headlines like that spark volatility. Yet over the weekend, Bitcoin stayed relatively calm. That calm may now be breaking.
Why does this matter beyond crypto traders? Because Bitcoin often acts as a barometer for risk appetite. When it weakens sharply, it can signal broader caution across speculative markets. Institutional investors, ETF flows and retail sentiment all tend to react to moves like this.
The crypto market remains above the 2.4 trillion dollar total valuation mark, but confidence can shift quickly. Volatility often returns when traditional futures markets reopen and that could amplify price swings.
For now, Bitcoin is at a crossroads. The next 48 hours could define whether this is just a shakeout or something bigger.
Stay with us for continuous updates as global markets react and the crypto landscape evolves in real time.
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