Bitcoin Stuck Below $61K After June Liquidation Reset
BTC hit a 20-month low and hasn't reclaimed key resistance. Here's what traders need to watch this weekend.
Bitcoin is in rough shape right now. After the brutal June 24-25 liquidation event, spot BTC accepted lower value and hasn't clawed its way back. The current active score sits at -3 out of a possible +10 — and that negative reading replaced a neutral futures-only reading that was masking just how weak the weekend spot action actually was.
The first line in the sand you need on your screen is $60,750-$61,000. That's the escape gate from the current lower balance. Without a clean reclaim there, the bearish reset stays intact. The stronger repair zone — and the one that would actually shift the narrative toward bulls — is $61,750-$62,250. Neither has been reclaimed. Until one of them flips to support, this market is not in recovery mode.
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There is one positive sign worth tracking: sellers could not force clean continuation below $58,000-$58,400. Buyers stepped in and defended that zone, which signals real absorption. But absorption at the lows is not the same as accumulation. For a genuine trend shift, you need to see higher value migration, stronger acceptance above resistance, and volume that backs it up. None of those boxes are checked yet.
The macro backdrop is making this harder. Fed's Kashkari floated the possibility of rate hikes if inflation stays sticky, and a broad tech sell-off — semiconductor stocks getting hit especially hard — dragged crypto down alongside it. Bitcoin also threatened to close below its 200-week moving average for the first time since October 2023, a historically significant level that long-term holders watch closely.
Bottom line: this is a bearish lower-value reset with early absorption signals, not a confirmed bottom. Watch order flow around $58,000-$58,400 for signs of institutional buying versus a capitulation cascade. Continue reading at Forexlive.
