While Bitcoin (BTC) trades at its lowest levels in months, some market watchers have warned that the leading crypto may be preparing for another major drop as it retests a critical technical area that has historically marked a turning point.<\/p>\n
Related Reading<\/span><\/h2>\n<\/p>\nBitcoin Tags Key 200\u2011Week SMA After Four Years<\/h2>\n
After falling 15% over the past four days, Bitcoin is attempting to reclaim the $64,000 level as support. The flagship crypto had been trading<\/a> between $64,000-$82,000 since the early February crash, holding above the upper half of the range for nearly two months.<\/p>\nHowever, this week\u2019s broader volatility pushed BTC toward the range\u2019s lower boundary for the first time in months, reaching a four-month low of $61,383 on Wednesday night.<\/p>\n
Amid this performance, market observer Rekt Capital highlighted<\/a> that the cryptocurrency had tagged the 200-week Simple Moving Average (SMA) for the first time in this bear cycle, which may signal that another correction is coming.<\/p>\nAs he explained, deviation below this SMA has \u201chistorically been the key to building out a Bear Market bottom formation.\u201d In June 2022, Bitcoin reached this level during its bear market correction, quickly losing it as support on the weekly timeframe.<\/p>\nBTC retests the 200-week SMA after four years. Source: Rekt Capital on X<\/figcaption><\/figure>\nFollowing the initial drop below the 200-week SMA, the leading crypto traded sideways, briefly retesting this level before continuing its descent to its late 2022 bear market bottom.<\/p>\n
Now, BTC has reached this key SMA nearly four years later, suggesting a drop<\/a> to new lows if the 2022 playbook repeats. The analyst noted that Bitcoin has been rejected from a critical area and has broken a key level, another similarity to past bear market corrections.<\/p>\nAccording to the post, BTC was rejected from the base of the Macro Triangle after failing to break past the $82,500 area, revisited the 50-Month EMA during the recent drop, and is currently breaking down from this EMA, a setup that has repeated each cycle before the market bottom.<\/p>\n
BTC\u2019s $60,000 Support About To Give In?<\/h2>\n
Rekt Capital pointed<\/a> out that Bitcoin rallies from the $60,000 region have progressively weakened since 2024, signaling deteriorating support. While the price surged 113% from this area during the mid-2024 rally, the February 2026 retest only generated a 38% move.<\/p>\nNow, the cryptocurrency has bounced<\/a> 4% so far, \u201cbut it\u2019s very likely that the rebound from here will be even weaker,\u201d the analyst stated, adding that the \u201c$60,000 area will be completely lost as support over time.\u201d<\/p>\nHe also stated<\/a> that during bear markets, Bitcoin tends to form multi-month price clusters, followed by new Macro Lower Highs before distributing from the clusters to reach new lows.<\/p>\n\u201cThe good news is there are 1-2 such clusters left in this Bitcoin Bear Market, with the Bear Market Bottom being the final cluster,\u201d he concluded.<\/p>\n
Related Reading<\/span><\/h2>\n<\/p>\nMeanwhile, Ali Martinez affirmed<\/a> that the recent breakdown from the $72,000 support has left Bitcoin \u201cin a vulnerable position,\u201d as it opens the door for a 25%-30% correction based on the MVRV Pricing Bands.<\/p>\nThe analyst previously noted that Bitcoin has consistently bottomed between the 1.0 and 0.8 MVRV Pricing Bands over the past decade. Now, the next major area of support is between $54,000 and $50,000, where the 1.0 pricing band is located.<\/p>\n![\"Bitcoin,](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/06\/BTCUSDT_2026-06-04_10-30-11.png?w=860&resize=860%2C563\")
BTC\u2019s performance in the one-week chart. Source: BTCUSDT on TradingView<\/a><\/figcaption><\/figure>\nFeatured Image from Unsplash.com, Chart from TradingView.com<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
While Bitcoin (BTC) trades at its lowest levels in months, some market watchers have warned that the leading crypto may be preparing for another major drop as it retests a critical technical area that has historically marked a turning point. Related Reading Bitcoin Tags Key 200\u2011Week SMA After Four Years After falling 15% over the […]<\/p>\n","protected":false},"author":2,"featured_media":366637,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-429589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/429589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=429589"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/429589\/revisions"}],"predecessor-version":[{"id":429590,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/429589\/revisions\/429590"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/366637"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=429589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=429589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=429589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
However, this week\u2019s broader volatility pushed BTC toward the range\u2019s lower boundary for the first time in months, reaching a four-month low of $61,383 on Wednesday night.<\/p>\n
Amid this performance, market observer Rekt Capital highlighted<\/a> that the cryptocurrency had tagged the 200-week Simple Moving Average (SMA) for the first time in this bear cycle, which may signal that another correction is coming.<\/p>\n As he explained, deviation below this SMA has \u201chistorically been the key to building out a Bear Market bottom formation.\u201d In June 2022, Bitcoin reached this level during its bear market correction, quickly losing it as support on the weekly timeframe.<\/p>\n Following the initial drop below the 200-week SMA, the leading crypto traded sideways, briefly retesting this level before continuing its descent to its late 2022 bear market bottom.<\/p>\n Now, BTC has reached this key SMA nearly four years later, suggesting a drop<\/a> to new lows if the 2022 playbook repeats. The analyst noted that Bitcoin has been rejected from a critical area and has broken a key level, another similarity to past bear market corrections.<\/p>\n According to the post, BTC was rejected from the base of the Macro Triangle after failing to break past the $82,500 area, revisited the 50-Month EMA during the recent drop, and is currently breaking down from this EMA, a setup that has repeated each cycle before the market bottom.<\/p>\n Rekt Capital pointed<\/a> out that Bitcoin rallies from the $60,000 region have progressively weakened since 2024, signaling deteriorating support. While the price surged 113% from this area during the mid-2024 rally, the February 2026 retest only generated a 38% move.<\/p>\n Now, the cryptocurrency has bounced<\/a> 4% so far, \u201cbut it\u2019s very likely that the rebound from here will be even weaker,\u201d the analyst stated, adding that the \u201c$60,000 area will be completely lost as support over time.\u201d<\/p>\n He also stated<\/a> that during bear markets, Bitcoin tends to form multi-month price clusters, followed by new Macro Lower Highs before distributing from the clusters to reach new lows.<\/p>\n \u201cThe good news is there are 1-2 such clusters left in this Bitcoin Bear Market, with the Bear Market Bottom being the final cluster,\u201d he concluded.<\/p>\n Meanwhile, Ali Martinez affirmed<\/a> that the recent breakdown from the $72,000 support has left Bitcoin \u201cin a vulnerable position,\u201d as it opens the door for a 25%-30% correction based on the MVRV Pricing Bands.<\/p>\n The analyst previously noted that Bitcoin has consistently bottomed between the 1.0 and 0.8 MVRV Pricing Bands over the past decade. Now, the next major area of support is between $54,000 and $50,000, where the 1.0 pricing band is located.<\/p>\n Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" While Bitcoin (BTC) trades at its lowest levels in months, some market watchers have warned that the leading crypto may be preparing for another major drop as it retests a critical technical area that has historically marked a turning point. Related Reading Bitcoin Tags Key 200\u2011Week SMA After Four Years After falling 15% over the […]<\/p>\n","protected":false},"author":2,"featured_media":366637,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-429589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/429589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=429589"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/429589\/revisions"}],"predecessor-version":[{"id":429590,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/429589\/revisions\/429590"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/366637"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=429589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=429589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=429589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BTC\u2019s $60,000 Support About To Give In?<\/h2>\n
Related Reading<\/span><\/h2>\n<\/p>\n