Bitcoin is currently testing a critical support level after failing to break above the descending resistance that has kept prices under pressure for months. With the market trading around $62.7K, the market is approaching a key decision point, with the $60K support zone being essential to preserve the recent bullish recovery structure. The Exchange Whale Ratio, measuring the proportion of exchange inflows from large whale transactions, has reached elevated levels, suggesting increased potential selling pressure. A decisive breakdown below $60K would increase the risk of a move toward $55K, while a daily close above $66K-$67K would significantly improve the market’s technical structure.
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