Bitcoin fell below $63,000 on Thursday as the selloff in the crypto market deepened.
Summary
- Bitcoin dropped below $63,000 as sellers broke the May range and liquidations crossed $1.1 billion.
- Analysts now watch $60,000, $55,000 and $50,000 as pressure builds across Bitcoin derivatives markets.
- RSI and MACD readings show Bitcoin is deeply oversold, but bearish momentum remains active.
The move pushed BTC to its weakest level since February and extended a sharp decline from its May range.
The drop came as renewed U.S.-Iran tensions weighed on wider risk markets. The Kobeissi Letter said Bitcoin had lost about $400 billion in market value since May 11, while more…
