Bitcoin: Downside Risks Mount Near $60000
Bitcoin at $60046 faces further downside that could hit sentiment as retail shifts to AI stocks while institutions stay in.
SourceAnalysis
Bitcoin at $60046.42 risks additional downside that would further pressure investor sentiment, according to Miller Tabak strategist Matt Maley.
Wall Street firms keep allocating to the digital asset space, yet retail money that powered prior rallies has rotated into high-growth AI and technology stocks.
Price sits inside the Bollinger Bands with upper resistance at $60850.42 and lower support at $59352.86. The bearish structure below the EMA50 at $61280.79 and EMA200 at $66285.38 keeps the bias lower, while the MACD golden cross at -422.46 offers only mild momentum support and RSI at 45.43 shows no overbought conditions. A test of the lower band near $59352.86 remains the next logical move before any sustained recovery attempt.
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