🚨💢🚨 It’s more likely just a stop for now.

We’ve seen $60K act as strong support multiple times this year, but the structure above it is still weak. Too many people got in during the $90K–$110K euphoria, and the amount of unrealized losses sitting above is massive. Every time we approach $60K, we get a relief bounce, but it hasn’t produced a convincing higher low yet.

This feels like a major psychological level rather than a rock-solid floor. If we lose it cleanly with volume, the next stop could be $52K–$55K pretty fast. If we hold and reclaim $65K–$68K with strength, then maybe $60K becomes the foundation for the next leg.

Right now, it’s still a dangerous zone. The bearish structure from the highs hasn’t been broken, and sentiment is fearful. $60K might hold as a temporary bottom, but calling it “the floor” feels premature until we see real accumulation and higher lows.

This is capitulation territory. It can bounce hard from here, but it can also break and flush more pain first.

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