BTC has been in a steady multi-week downtrend off the ~82,670 peak set in late April, with price holding below EMA50 throughout the slide as hawkish-Fed pricing, sticky PCE and persistent ETF outflows pressured risk. The latest session swept below the 60,000 psych pivot to 59,155 before recovering to close at 61,034, leaving a probe of the swing low rejected. RSI near 44 shows downside momentum but no oversold extreme yet.
What it said to watch
Daily close back below 59,137 swing low confirms a lower low and opens the 58,035 ytd low
Reclaim of 64,400 swing high needed to challenge the lower-highs structure
Friday Michigan sentiment + inflation expectations could materially shift risk tone
21:05 UTC
Downtrend, momentum heavy · RSI 41 · price 61,033.78
Lower highs and lower lows since early-May peak.
BTC has unwound roughly 26% from the early-May peak near 82,670, carving a steady chain of lower highs and lower lows with price pinned below EMA(20) and EMA(50). The mid-June bounce to 66,425 was sold, and the latest leg has pressed back toward the 59,155 swing low as hawkish-Fed/sticky-PCE risk-off and persistent ETF outflows weigh on the tape. Price is hovering just above the 60,000 psych pivot after a heavy 60,939 session low.
What it said to watch
Daily close below 59,155 opens the 58,035 ytd low and the 54K downside cited by the digest
Reclaim of 60,000 vs rejection defines near-term tone
Fri Michigan inflation expectations + Fed speakers (Goolsbee/Williams/Kashkari) could materially shift this risk-off read