The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Following weeks of heightened volatility in the crypto market, Bitcoin is currently searching for firm support levels to halt its downward momentum. According to reports, the leading cryptocurrency has experienced a 13% crash over the last seven days, prompting traders to identify potential pivot zones. In this context, analyst Gareth Soloway has identified four distinct price levels that could serve as a potential floor depending on the asset's performance in the coming weeks.
This decline occurs as risk-on assets face mixed pressures, with global economic data showing slowdowns in certain sectors, such as the 0.1% contraction in France's GDP per market data released on May 29, 2026. In comparison to altcoins, Ethereum has faced similar downward pressure, while analysts monitor liquidity levels in Bitcoin ETFs which have recently seen net outflows according to Bloomberg research.
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Sign InInvestors should closely watch technical support levels near the $60,000 mark as a primary psychological zone, noting that Bitcoin remains in a cautious consolidation phase. Looking ahead, upcoming speeches from Federal Reserve officials could significantly impact market sentiment and risk appetite, determining whether the digital asset tests deeper support levels or begins a recovery trend.
Update: Bitcoin has officially hit its lowest price level since February, a move analysts attribute to the erasure of the geopolitical risk premium. As tensions involving Iran de-escalate, the cryptocurrency has lost a key supportive driver, further intensifying short-term selling pressure.