Bitcoin Tumbles Below $64K: Key Support Levels to Watch

Bitcoin (BTC) has experienced a significant decline, dipping below $64,000 and approaching six-week lows. The recent price action has raised concerns as buyers have yet to step in. A key trendline, the short-term holder cost basis (STHCB), has been breached, marking a rare show of weakness. While some buyers have shown interest at lower levels, sustained bidding is needed for a recovery. Analysts remain cautious, highlighting the lack of real market participation and the potential for price to fall further to $60,000. The 21-week simple moving average (SMA) at $63,074 is also a point of interest, but order book liquidity is relatively low in that area. This article does not provide investment advice, and readers are advised to conduct their own research before making any decisions.