#BTCProbes60KKeySupportLevel

Bitcoin is testing the most critical support level in the market right now, and the battle at $60,000 is shaping the trajectory for every crypto asset tied to its momentum.
On June 26, 2026, BTC was trading around $59,851, down 1.7% in the last 24 hours and about 4.5% in a week. The intraday low touched $58,131 on Thursday, the lowest point in 21 months, forcing bulls to desperately defend the zone that has held since February.
Derivatives Show Increasing Weakness
The derivatives landscape tells a bleaker story.
Around $600 million in long positions were liquidated in one hour during the latest drop, part of a broader $1.8 billion wipeout across crypto futures in 24 hours.
Open interest has fallen 17.3% to $46.4 billion over 30 days, meaning leverage has decreased substantially, but retail long positions still hold at 70.5%—a contrarian red flag indicating that many traders are still betting on a bounce not yet supported by data.
The Fear and Greed Index is at 13, indicating extreme fear approaching capitulation conditions.
Technical Outlook
Technically, the picture remains fragile.
The daily RSI has dropped to 24.95, entering oversold territory.
The broader RSI on daily and weekly timeframes ranges between 34–43.
The MACD remains predominantly bearish, although a minor bullish divergence has appeared on the daily chart—still unconfirmed and not enough on its own to call a reversal.
The 200-week moving average is at $62,457, serving as a macro pivot.
Bitcoin must reclaim $63,100–$65,000 with increased volume and ETF inflows to change the trend.
#BTCProbes60KKeySupportLevel