Autor Cointelegraph By William Suberg

Bitcoin (BTC) extended losses after Friday’s Wall Street open as traders prepared for a retest of $60,000.Key points:Bitcoin begins a battle to protect $60,000 support as sell-side pressure refuses to cool.Analysis sees early signals that “seller exhaustion” is here.US nonfarm payrolls data produce a stronger-than-expected picture of US labor market conditions.Bitcoin battles for $60,000 supportData from TradingView showed daily BTC price downside approaching 5% as sellers stayed in the driving seat.BTC/USD one-hour chart. Source: Cointelegraph/TradingView“Rapidly approaching its February low at $60K. Now in its 6th red daily candle and down more than the entire April/May rally,” trader Daan Crypto Trades noted in a reaction on X. “Really was a case of stairs up elevator down which is something we often see in these larger bear trends. Eyes on that $60K area for now.”BTC/USDT perpetual contract one-day chart. Source: Daan Crypto Trades/XCommentator Expitump referenced the Coinbase Premium, the difference in price between Coinbase’s BTC/USD and Binance’s BTC/USDT pairs and a key yardstick for US demand.“Price is still under controlled selling, but seeing funding getting almost into negative and coinbase discount decreasing,” they summarized in their latest market coverage. “Early signs of seller exhaustion.”Binance Bitcoin futures 30-minute chart with order-book data. Source: Exitpump/XTrader Morin said that BTC/USD was now “frontrunning a key range low” with the key $60,000 mark in sight.“Swept 61.3k internal low but failed to make higher high. Consistent lower highs – > Sellers in Control,” he told X followers. “Wouldn’t be surprised to see 60s traded or even ran through.”BTC/USD 30-minute chart. Source: Morin/Xrisk assetsNonfarm payrolls further reduce Fed rate-cut oddsCrypto bulls were not helped by macro data, with US nonfarm payrolls considerably outpacing expectations to suggest a stronger labor market. Related: Bitcoin needs one more thing to happen to spark BTC price ‘rally:’ AnalysisThe economy added 172,000 jobs in May, more than double the anticipated 85,000.“April’s jobs number was also revised UP by +64,000 jobs. This marks the second strongest US jobs report in 13 months,” trading resource The Kobeissi Letter responded.Fed target rate probabilities (screenshot). Source: CME GroupHigher jobs numbers notionally reduce the need for the Federal Reserve to cut interest rates and provide crypto and risk assets with a liquidity tailwind. Data from CME Group’s FedWatch Tool showed markets pricing in a rate hike before the end of the year.Commenting, trading resource Mosaic Asset Company argued that strong labor-market data would in fact complicate the Fed’s task.“If the payrolls report for the month of May confirms underlying strength in the economy and labor market, the outlook for monetary policy will grow more uncertain given the recent jump in consumer and producer inflation,” it wrote previously in its latest Mosaic Chart Alerts update. “At the same time, evidence of solid economic activity is helping the average stock catch up to the gains in the S&P 500 and Nasdaq.”

Bitcoin (BTC) has fulfilled two of three key conditions to spark the next BTC price “rally,” new analysis says.Key points:Bitcoin whales on Hyperliquid and Bitfinex are already pointing to the beginning of a BTC price uptrend, according to the latest findings.Bitcoin markets now need demand to return in the form of the Coinbase and Kimchi Premium.Other preconditions for a bear market bottom are also in the process of forming.Bitcoin price comeback hinges on US, Korea demandBitcoin whale traders are laying the foundations for BTC price relief, even as BTC/USD plumbs four-month lows.In an X post on Friday, trader CW confirmed that Bitcoin whales on both Hyperliquid and Bitfinex are signaling a market rebound.BTC/USD long positions on Bitfinex. Source: CW/XCW notes that Hyperliquid whales have adopted a “bullish stance” on the market, while on Bitfinex, long positions have tailed off. The latter is a classic sign that an uptrend is due next.“What remains is for the Kimchi Premium and Coinbase Premium to turn positive,” he commented.The Coinbase Premium is the difference in price between Coinbase’s and Binance’s BTC/USDT pairs and has been mostly negative in 2026.Bitcoin Coinbase Premium Index. Source: CryptoQuantA negative premium reflects weak US demand, while the Kimchi Premium monitors the South Korean exchange sector.Once demand returns across the board, Bitcoin has a better chance of reentering a sustainable uptrend.CW acknowledged that the Kimchi Premium has already “decreased significantly” versus earlier in the week.Bitcoin starts its latest “bottoming out” phaseAs Cointelegraph reported, consensus overall favors a macro bottoming phase playing out for BTC/USD next.Related: Trump says Iran will ‘work out well’: Five things to know in Bitcoin this weekThe week has seen the pair touch a key bear-market trend line in the form of its 200-week simple moving average (SMA) — another essential ingredient in a bottom formation.“Bitcoin has only just started deviating below the 200-week SMA,”  trader and analyst Rekt Capital emphasized to X followers on Friday.“The significance of this is that historical Bear Market Bottoming out formations have started to develop via such deviations.”BTC/USD one-week chart with 200SMA. Source: Rekt Capital/XEarlier, trader Leviathan described BTC price action as copying the 2022 bear market “almost perfectly.”

Bitcoin (BTC) returned below $64,000 after Thursday’s Wall Street open as bulls nursed 13.5% weekly losses.Key points:Bitcoin struggles to stabilize amid its worst week of losses in 2026 so far.$60,000 is the line in the sand for bulls to defend, analysis says.BTC price action with a key trend line closely mimics the 2022 bear market.Bitcoin “sellers remain in control” as $60,000 nearsData from TradingView showed BTC price strength barely recovering after a slide to its lowest levels since early February.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewBTC/USD revisited its 200-week simple moving average (SMA) trend line at the lows, continuing to copy “classic” bear-market behavior from 2022.“Continuation down after that bearish retest in the low $80Ks region,” trader Daan Crypto Trades wrote in a summary of the status quo on X. “Clearly still a bigger down trend this has been in since October last year.”Daan Crypto Trades said that the focus was now on $60,000 and its ability to sustain as support.“Key area here in the low $60Ks least with the Weekly 200MA too,” he added.BTC/USDT perpetual contract one-day chart. Source: Daan Crypto Trades/XTrading resource The Kobeissi Letter noted that since October 2025, crypto markets had shed more than $2 trillion in market up.Total crypto market cap one-week chart. Source: Cointelegraph/TradingViewOn short time frames, commentator Exitpump said that sellers still had the upper hand. “Every bounce gets met with a wall of chasing asks on Binance perps orderbook. The moment buyers start pushing, more supply shows up overhead and keeps price pinned,” they told X followers. “Sellers remain in control for now.”BTC/USDT perpetual contract (Binance) chart with order-book liquidity. Source: Exitpump/XAnalysis notes “incredible” 2022 BTC price replayAt more than 13%, BTC/USD thus faced its worst week of 2026 so far, per data from CoinGlass.Related: Trump says Iran will ‘work out well’: Five things to know in Bitcoin this weekBTC/USD weekly performance (screenshot). Source: CoinGlassContinuing on the 200-week trend line, meanwhile, currently at $61,626, trader and analyst Rekt Capital made the case for ongoing four-year BTC price cycles.“On the 13th of June 2022, Bitcoin reached the 200-week SMA during its Bear Market correction,” he noted on the day. “Now in the 2026 Bear Market, Bitcoin has reached the 200-week SMA almost exactly to the date 4 years later. Bitcoin Cycles are incredible.”BTC/USD one-week chart with 200SMA. Source: Rekt Capital/X

Bitcoin (BTC) has tagged a key bear-market trend line with its drop to four-month lows, with a “decent chance” of a rebound next.Key points:Bitcoin revisits its 200-week simple moving average after trading above it since October 2023.The trend line functioned as resistance throughout the 2022 bear-market bottom and rebound.Bitcoin’s daily RSI approaches its most oversold since 2020.Bitcoin bear-market trend line returns after nearly three yearsData from TradingView shows that for the first time since 2023, BTC/USD is back at its 200-week simple moving average (SMA).The 200-week SMA is a key yardstick during Bitcoin bear markets. The trend line, which has only ever increased with time, currently sits at $61,626.BTC/USD one-week chart with 200SMA. Source: Cointelegraph/TradingViewThe last time price interacted with it was in October 2023, but during the 2022 bear market, it functioned as resistance until bulls fully regained control.Commenting, CollinTalksCrypto, creator of the social media channel of the same name, described the return of the 200-week SMA as a “key milestone.”“Does it bounce here or keep dropping?” he queried in a post on X.“My guess is BTC has a decent chance of bouncing soon as it’s been dropping pretty steeply. But honestly it’s anyone’s guess in the short term.”BTC/USD one-week chart with 200SMA. Source: ColinTalksCrypto/XColinTalksCrypto included a chart showing various bull and bear flags over the past several years. As Cointelegraph reported, BTC/USD has now copied its bear-flag breakdown from the start of 2026.He added that the “best bear market entries happen *below* the 200-week MA.”BTC price sparks more record “oversold” talkSome optimistic market takes focused on the “oversold” nature of Bitcoin at its latest local lows.Related: Bitcoin copying 2022 ‘almost perfectly’ as trader sees key support failingOn daily time frames, the relative strength index (RSI) dropped to 17.35, marking its lowest levels since 2020 along with the February drop.BTC/USD one-day chart with RSI data. Source: Cointelegraph/TradingViewResponding, the X analytics account named after famous economist Frank A. Fetter stressed that BTC/USD was “pretty much the most oversold ever.”“It’s the area to accumulate your positions, if you have a strong thesis on Bitcoin from here,” crypto trader and analyst Michaël van de Poppe added on the back of both RSI data and the revisit of the 200-week SMA.Van de Poppe put ongoing questions over Strategy’s corporate debt at the center of short-term price trajectory.“Aside from that perspective, it’s all about STRC and the depeg; if that flips back upwards, it’s very likely time for Bitcoin to bounce back too,” he added. “If there’s a constant, continuous downward trend here, we’ll most likely see sub-$60,000 in the markets.”BTC/USD one-week chart. Source: Michaël van de Poppe/X

Bitcoin (BTC) hovered near two-month lows on Wednesday as 2022 bear-market comparisons returned.Key points:Bitcoin traders bring back the 2022 bear market to assess where BTC price action might go next.History shows a new lower high followed by a breakdown of a key 50-month trend line.That trend line has held throughout 2026 so far.Analysis: Bitcoin 50-month trend line break down “likely”Data from TradingView showed cooling BTC price volatility after a trip to $65,362 on Bitstamp — a level last seen in early April.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewAfter billions of dollars in liquidations, BTC/USD fielded new warnings that the worst of the bear market may still be ahead.Trader and analyst Rekt Capital focused on the 50-month exponential moving average (EMA) trend line at $66,628.“Over time, Bitcoin is likely to breakdown from this EMA and continue macro downside in this Bear Market,” he warned in one of several posts on X.Rekt Capital said that if history were to repeat from the 2022 bear market, price should now see a relief bounce to form a lower high before returning to the 50-month EMA, which would in turn fail as support.“Historically, Bitcoin tends to rebound initially from the 50-Month EMA but then loses it as support as the Bear Cycle progresses,” he added.BTC/USD one-month chart with 21, 50EMA. Source: Rekt Capital/XContinuing, trader Leviathan argued that the 2026 bear market was copying its predecessor “almost perfectly.”“Every stage printing in the same order,” an X post reported, calling $60,000 the “line that matters.”“Hold it – liquidity flush complete, recovery begins. Lose it – deeper correction, no support below. One level, two completely different outcomes. Market makes the call soon.”BTC/USD two-week chart comparison. Source: Leviathan/XAnother trader, Killa, leveraged 2022 price action to suggest “weeks” of consolidatory movement between $63,000 and $65,000 next.BTC price chart comparison. Source: Killa/XBTC price support reclaim could offer 700%+ returnsA silver lining on the day came from historical reactions to the 50-month EMA.Related: Bitcoin has hit ‘max fear’ below $67K as analysis sees BTC price reboundAnalytics account Paradox noted the extent of potential gains that could come from Bitcoin’s eventual reclaim of the trend line after losing it.“$BTC lost the monthly 50MA in 2022. It reclaimed it 5 months later, delivering a 715% return over the next 2 years,” it told X followers.In February, BTC/USD saw several daily closes below the trend line, ultimately avoiding a full breakdown. In March and April, meanwhile, it functioned successfully as support.BTC/USD one-day chart with 50-month EMA (blue line). Source: Cointelegraph/TradingView