Bitcoin is trading just over $62,000 and roughly $2,700 above the $60,000 round number that’s become the next obvious test on the way down.
The price has now shed close to 16% from last week’s $74,000-plus levels, with the bulk of the damage coming in the past three sessions as the AI trade rolled over globally.
A break of $60,000 would put bitcoin back into territory it last visited during the February drawdown, with the next technical support sitting closer to $55,000.
The supports that held bitcoin through earlier 2026 drawdowns are no longer in place. U.S. spot bitcoin ETFs have logged 15 straight sessions of net outflows totaling more than $4.7 billion.
Strategy disclosed its first bitcoin sale since 2022 earlier this week and is no longer functioning as the marginal corporate buyer that absorbed selling through 2024 and 2025.