Bitcoin has approached levels that, in previous cycles, more often appeared closer to the final stage of a bear market. According to Checkonchain, the price has fallen to the area of the 200-week average, which long-term investors use as a rough line of the four-year trend.
The past few months have not been easy for miners. Mining profitability has fallen to the lowest levels ever recorded, while Bitcoin continues to fluctuate near the $60,000 level.
Bitcoin is trading at $61,433 on 10 June, holding above the support zone that was briefly broken on 5 and 6 June, when Fidelity Digital Assets noted that the price fell below the 200-week SMA near $61,800 — a level historically associated with forced-selling events.
Institutional Bitcoin reserves are growing: the top 100 holders account for 1,258,090 $BTC, with Strategy leading the list with a massive position of 845,256 $BTC.
Bitcoin remains under pressure after a sharp correction erased a significant portion of its earlier gains, but fresh speculation surrounding Strategy Executive Chairman Michael Saylor has sparked renewed market interest.
Bear market comments and speculation have returned to the cryptocurrency space after Bitcoin erased more than $400 billion from its market cap in a matter of weeks, falling from over $82,000 to a Friday low of $59,000 — its lowest level in 19 months.
Bitcoin is testing a major support area after losing the $80,000 region and rejecting key moving averages. Analysts now point to the low-$60,000 zone as the main level to hold, while a deeper break could bring the $48,700 and $40,000–$50,000 areas into focus.
Bitcoin remains under significant pressure after a sharp decline that pushed the cryptocurrency below several major technical support levels. Although recent trading activity shows some stabilisation near local lows, the broader market structure continues to favour sellers. At the same time, rising derivatives activity and persistent exchange outflows create a more complex picture for investors assessing Bitcoin’s next move.
Declines in the crypto market are leading to capital outflows from exchange-traded funds based on BTC, $ETH, SOL and $XRP. On Wednesday, issuers of spot Bitcoin ETFs recorded capital withdrawals for the 13th consecutive trading day. In total, outflows have amounted to $4.37 billion since mid-May.
After Bitcoin (BTC) surpassed the $82,000 mark during the first week of May, it once again entered a downward trend. As Bitcoin continues to trade below the $70,000 level, investors are questioning whether the local low of $60,000, recorded in February, will be tested again.
According to the latest data, Strategy made its first Bitcoin sale, selling a total of 32 BTC at a price of $77,135 per coin.
The leading cryptocurrency, Bitcoin ($BTC), is facing both Middle East-related risks and the problem of overly crowded long positions on the first trading day of June. This pushed the price below $73,000, and CoinShares published its weekly cryptocurrency report, stating that outflows last week amounted to $1.67 billion.
Bitcoin continues to trade under pressure after losing momentum near the key $80,000 resistance region. The leading cryptocurrency is now holding around $73,500, reflecting growing uncertainty across the broader market. Traders remain cautious as Bitcoin struggles below major moving averages, while derivatives data and spot market activity point to weakening bullish confidence.
Bitcoin is trading near $73,000 as charts from Man of Bitcoin and CW show $BTC at a short-term decision point. One setup warns that bullish momentum is weakening, while the other shows shorts closing as selling pressure starts to fade.
Crypto exchange Kraken has launched a new Bitcoin yield product, offering users annual returns of up to 2.5% on long-term $BTC without the need to interact directly with DeFi protocols. The product, called Bitcoin Vault, operates through Kraken Earn and allows clients to maintain spot exposure to Bitcoin while earning yield in $BTC generated through on-chain lending and liquidity strategies.
Bitcoin’s uptrend against gold, which had lasted for the past three months, was interrupted as investors began to prefer the precious metal as a store of value.
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