Bitcoin has dropped over 13% in the past seven days, prompting the market to reassess the potential downside of this correction. Foreign media cited analyst Gareth Soloway, who noted that while a short-term technical rebound may occur, the key focus over the coming weeks will be whether the $60,000 level can be held.
$65,500 or a short-term rebound
The article states that Bitcoin's current price structure is more akin to a weak consolidation rather than a rapid stabilization. Analysts believe that around $65,500 is the first observable level, a region corresponding to multiple prior lows, which could trigger a limited rebound.
However, this level is described as a secondary support, serving more as a short-term buffer than a trend reversal signal. If the rebound lacks strength, the market may still continue to decline.
$60,000 serves as a pivotal midpoint for the intermediate trend.
Within this analytical framework, $60,000 is the more critical price level. The article suggests that even if Bitcoin experiences a brief rebound first, it is still likely to retest this level afterward; whether it breaks below $60,000 will determine whether the medium-term trend weakens further.
If this level is breached, the next support zone is roughly between $48,000 and $49,000. Since $50,000 is a significant round number, a break below it could further weigh on market sentiment.
- $65,500: A minor technical rebound may occur
- $60,000: The most critical support level for the medium-term trend
- $48,000 to $50,000: The primary support range for the next phase
The most pessimistic scenario points to $35,000.
The article also notes that if the higher time frame charts continue to weaken, the most bearish scenario could point toward $35,000. This assessment is based on the head-and-shoulders pattern, but analysts also stated they do not hope this pattern fully completes.
Overall, this content represents market perspectives from external analysts rather than actual price outcomes. The core judgment is that there may be room for a short-term rebound, but if $60,000 is breached, expectations for a deeper correction are likely to rise significantly.
Strategy position risk is being discussed again
In addition to price trends, the article mentions the potential market impact of Michael Saylor and Strategy. This stems from Strategy’s disclosure that it sold a portion of its Bitcoin for the first time in approximately three and a half years; although the scale was modest, it sparked market discussions about its future operational flexibility.
The report states that Strategy currently holds approximately $63 billion in Bitcoin, with an average purchase cost of around $75,000, higher than the current price level. Analysts believe that small-scale sales would have limited market impact, but larger-scale disposals in the future could amplify Bitcoin’s volatility.
Additional information: The subsequent price range and pattern analyses mentioned in the text are based on external analysts’ opinions; the Strategy section is derived from market discussions following the company’s disclosure.