BTC Faces Further Downside as $60K Comes Into Focus

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Bitcoin's collapse has accelerated dramatically over the past several days, but the rebound might not be coming soon.

10 days ago, BTC traded at $81,000. On Friday morning, the cryptocurrency crashed below $68,000 for the first time in nearly three months. On Saturday, it tanked further to under $67,000.

CryptoPotato reached out to two market experts to try to get a perspective on the current conditions and whether they anticipate an immediate bounce or more pain on the horizon.

Why $68K Is So Important
Martin Lee, Market Insights Lead at DWF Labs, highlighted bitcoin’s 50-week moving average near $75,000, which the asset is on track to close beneath only eight weeks after reclaiming it. Historically, moves back above that trend line have often preceded sustained rallies, while losing it has opened the door for further downside.

Lee, though, sees one important difference this time: BTC never moved particularly far above the 50-week MA before reversing, with its top briefly coming at $87,000 in September. This left BTC relatively close to another major technical support: the 200-week moving average around $68,000.

This key level has repeatedly served as an important long-term floor, Lee said. He contrasted the current setup with November 2025, when the cryptocurrency lost the 50-week MA near $100,000 and eventually plunged toward $60,000 before reaching comparable long-term support.

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