Huoxing Finance reports that, due to profit-taking on AI-related assets and a decline in market risk appetite, Bitcoin has fallen to around $62,000, a cumulative decline of nearly 16% from last week’s high of over $74,000. Market analysts suggest that if Bitcoin fails to hold the $60,000 psychological level, its next key technical support may be near $55,000. Additionally, U.S. spot Bitcoin ETFs have recorded net outflows for 15 consecutive trading days, totaling over $4.7 billion. Furthermore, Strategy disclosed this week its first Bitcoin sale since 2022, further dampening expectations for institutional buying.
BTC may drop to $60,000 amid profit-taking in AI-related assets
MarsBitShare
Summary
Bitcoin may drop to $60,000 as profit-taking in AI-related assets and reduced risk appetite weigh on the digital asset market. BTC fell nearly 16% to $62,000 from last week’s peak of $74,000. Analysts warn that a break below $60,000 could target $55,000. U.S. spot Bitcoin ETFs recorded $4.7 billion in outflows over 15 days. The strategy’s first Bitcoin sale since 2022 adds to weak institutional demand. Altcoins under observation may face further pressure amid the broader sell-off.
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