The price is around $59,650, an important psychological zone.

Bitcoin is moving in a medium-term bearish trend: sellers keep the advantage as long as the price does not reclaim key resistance levels.

The $58,000–$60,000 zone is a major support. If it gives way, the market could accelerate toward lower levels. Analysts are particularly monitoring a risk of a decline toward $46,000–$40,000 if selling pressure intensifies.

Fundamental Analysis

The market remains under pressure due to several factors:

outflows from spot Bitcoin ETFs;

high U.S. interest rates, which reduce appetite for risk assets;

a cautious market sentiment despite ongoing institutional interest.

Bullish Scenario

For the trend to improve, Bitcoin should:

hold the $58,000–$60,000 support;

then break through the following resistances with significant volume.

My Opinion

In the short term, I remain cautious. The market shows more weakness than strength. However, for a long-term investor, this zone could be interesting for gradual accumulation, while accepting the possibility of further decline before a recovery. This view is consistent with several analyses that consider the current phase as a period of consolidation or correction before the next bullish cycle, even if opinions remain divided.

If you want, I can also provide you with a complete analysis including supports, resistances, and price targets for the coming weeks.