$BTC This week begins in a fairly challenging condition after experiencing one of the biggest corrections of the year 2026. Prices briefly dropped close to the US$59,000 area before recovering to the range of US$62,000–63,000. This movement indicates that the market is still in a phase of high uncertainty and volatility.

One of the main factors pushing Bitcoin prices down is the large outflow of funds from spot Bitcoin ETFs over the past few weeks. This institutional fund outflow shows that some major investors are still choosing to reduce their exposure to crypto assets amid the unstable global economic conditions. Additionally, massive liquidations of leveraged positions have also accelerated the decline in BTC prices.

From a technical perspective, the US$60,000 area has become a very important level. Many analysts consider this level as both a psychological support and a key technical support. As long as BTC can stay above this area, the possibility of a recovery remains open. However, if the price breaks below and stays below US$60,000 for several days, the potential for further decline toward the US$50,000–55,000 range will increase.

Nevertheless, some positive signals are beginning to emerge. After last week’s sharp decline, momentum indicators like RSI show oversold or overextended selling conditions. Historically, such conditions in Bitcoin are often followed by short-term recovery rallies. Additionally, major investment firms known as large Bitcoin holders are buying BTC again worth more than US$100 million, indicating that some institutional investors still have confidence in Bitcoin’s long-term prospects.

For this week, three scenarios are worth watching. The first is bullish, which occurs if BTC can break through the resistance area of US$65,000–66,000. If this happens, prices could continue rising toward the US$70,000 to US$75,000 range. The second scenario is consolidation, where prices move between US$60,000 and US$65,000 while waiting for new sentiment from the global market. The third is bearish, which occurs if the US$60,000 support fails to hold, potentially opening the way toward the US$50,000 area.

Overall, Bitcoin’s short-term outlook remains cautious. Although selling pressure has not fully ended, the emergence of buying interest from large investors and the market conditions being quite oversold provide opportunities for a technical rebound. Investors and traders should continue to monitor the US$60,000 level as a key area that is most likely to determine Bitcoin’s price direction in the coming weeks.