Bitcoin (BTC) is attempting to stabilize around the $61,000 level after a sharp selloff from the mid-$67,000 range, with market data showing heavy overhead supply near $63,000 and a near-term support zone forming just above $60,000. The shift matters because it suggests the market is moving from a momentum-driven downdraft into a phase of ‘price rebalancing’—where new transactions increasingly occur at lower levels, resetting the average cost basis for recent participants.
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