Bitcoin Slides Below $64,000 as $60,000 Becomes Critical Support Level

Bitcoin ($BTC) returned below $64,000 following Thursday's Wall Street open, with bulls nursing 13.5% weekly losses as the cryptocurrency headed toward its worst week of 2026. The Kobeissi Letter noted that since October 2025, crypto markets had shed more than $2 trillion in market capitalization. Data from TradingView showed $BTC price strength barely recovering after a slide to its lowest levels since early February.

The $BTC/USD pair revisited its 200-week simple moving average (SMA) trend line at the lows, continuing to mirror bear-market behavior from 2022. "Continuation down after that bearish retest in the low $80Ks region," trader Daan Crypto Trades wrote in a summary of the status quo on X. "Clearly still a bigger down trend this has been in since October last year." Daan Crypto Trades said focus had shifted to $60,000 and its ability to sustain as support, describing the "low $60Ks" alongside the weekly 200MA as the key area to defend. The 200-week trend line currently sits at $61,626.

On short time frames, commentator Exitpump told X followers that sellers maintained the upper hand. "Every bounce gets met with a wall of chasing asks on Binance perps orderbook. The moment buyers start pushing, more supply shows up overhead and keeps price pinned," Exitpump said, adding that "sellers remain in control for now."

At more than 13%, $BTC/USD was facing its worst week of 2026 so far, according to data from CoinGlass. Trader and analyst Rekt Capital drew parallels with the prior cycle, noting that "on the 13th of June 2022, Bitcoin reached the 200-week SMA during its Bear Market correction." Rekt Capital added that "now in the 2026 Bear Market, Bitcoin has reached the 200-week SMA almost exactly to the date 4 years later," concluding that "Bitcoin Cycles are incredible."