Bitcoin Falls Below 200-Week MA, Analysts Warn of Reversal if Support Fails

Bitcoin's price has fallen below its 200-week moving average, raising concerns about its short-term prospects. Analysts warn that if BTC cannot hold above $62,000, it could retest the $57,000-$60,000 zone.

Daan Crypto Trades believes Bitcoin is still hovering near the weekly 200-day moving average and lacks a directional breakout. Until there is a clear breakout or breakdown at high-timeframe levels, traders should not overinterpret short-term volatility.

On-chain data shows unusual movements among long-term holders recently, with over 65,000 BTC moved on-chain for two consecutive days. Around 14,000 BTC of that flowed into exchanges, including 2,628 BTC transferred to an exchange by a Trump-affiliated public company.