Bitcoin tested critical support at $60,000 following $10 billion in spot ETF outflows and a surge in whale deposits to exchanges. The Relative Strength Index (RSI) hit its most oversold levels since 2020 as traders weighed capital rotation into the AI sector. Prices eventually stabilized near $61,739 after MicroStrategy Chairman Michael Saylor hinted at potential further Bitcoin acquisitions.
In a decisive shift reflecting crypto-asset resilience against macro headwinds, Bitcoin has successfully breached key resistance levels to resume its upward trajectory.
Read the full storyBitcoin reclaimed the $61,000 and $62,000 levels, but the bullish trend remains conditional on breaking the $64,580 resistance barrier.
The cryptocurrency stabilized near $61,739 after testing critical support, as traders weigh capital rotation into AI and Michael Saylor's hints at institutional buying.
Bitcoin's Relative Strength Index has dropped to levels not seen since the 2020 crash, signaling a potential price rebound based on historical technical patterns.
The leading cryptocurrency faces intense pressure as spot ETFs record massive net outflows and whale activity on exchanges signals rising sell-side momentum.