Bitcoin is trading near $61,244, with daily technicals firmly in the sell zone. The RSI sits at 23.47, one of the most oversold readings since March 2020. Market structure remains weak, with BTC continuing to trade below all key moving averages.
Resistance sits in the $64,000 to $64,300 band, a level BTC has repeatedly failed to hold. A sustained close above that range opens room toward $65,500 to $66,500. Immediate support rests at $60,200 to $60,500.
Akshat Siddhant, Lead Quant Analyst, Mudrex, stated, “Bitcoin is trading near the $61,000 level as risk aversion continues to dominate global markets following renewed US military action against Iran during the ceasefire period.
He further added, Investors are also adopting a wait-and-watch approach ahead of the , leading to lower liquidity and reduced risk-taking.
A softer inflation reading could help Bitcoin regain momentum and move toward $65,000, while a hotter-than-expected print may increase pressure and push BTC back toward the $59,000 support zone.”
WazirX Market Desk noted, “Bitcoin is trading near $61,244, with an RSI of 23.47 and daily technicals firmly in the sell zone. Meanwhile, CME’s launch of Bitcoin volatility futures introduces a regulated way to trade BTC price swings, further expanding institutional access beyond spot and directional exposure.”
Piyush Walke, Derivatives Research Analyst, Delta Exchange, added, “Bitcoin still faces strong resistance near the $64,000 to $64,300 zone, and yesterday a fall was evident from the same level. The immediate strong support lies at $60,200 to $60,500. Bitcoin’s short-term modest rebound may prove short-lived as structural frailties are exposed.”
