#BTCProbes60KKeySupportLevel Bitcoin BTC$ 59,803.99 continues to face severe pressure as investor interest in global markets shifts toward AI and technology stocks.

The world's largest cryptocurrency lost nearly 30% in value in the first half of the year, while the "dollar depreciation" trade, also known in markets as the "Sell America" trade, losing its impact increased selling pressure on Bitcoin.
Bitcoin set a record about a year ago by rising above $126,000 and gained about 350% in its two-year rally.
This rise was driven by expectations that rising public debt in the US, inflation pressure from tariffs, and political pressure on the Fed would weaken the dollar.
But this narrative has rapidly lost steam in recent weeks.
Jonathan Krinsky noted that narratives at market peaks often seem very convincing, and said, "As we saw with Bitcoin and software stocks last October and precious metals in January, things can change quickly."
The trade in question was quite effective for a time.
After Donald Trump's election victory, the dollar index fell 5.6% in a year, while gold reached a record of $5,589 per ounce at the end of January.
Bitcoin also saw its historic highs in the same period.
But the current picture has now reversed
Bitcoin fell below $60,000 for the first time since 2024 this week, while the dollar index rose to its highest levels in over 13 months.
According to the latest data, Bitcoin traded just below $59,230.
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