The price of Bitcoin is at risk of a significant decline if it falls below $60,000. According to market analysts, this level has historically served as both psychological and technical support for the cryptocurrency.
Matt Maley, chief market strategist at Miller Tabak, warned that a decisive break below $60,000 could amplify bearish momentum. He noted that while institutional interest from Wall Street remains steady, retail investors who fueled previous rallies have increasingly redirected their attention to AI and tech stocks, which have offered more consistent returns in recent months.
John Roque, an analyst at 22V Research, offered a specific downside target, suggesting that if Bitcoin revisits and breaks below $60,000, the next logical support could be around $40,000, representing a potential 30% drop from current levels. His analysis is based on historical price patterns and the erosion of buying pressure from smaller traders.