Peter Schiff

Bitcoin has dropped below its 50-day moving average after losing 2.9% over the past 24 hours, weakening hopes of a confirmed trend reversal. Traders are now watching support around $61K and $59K, while broader market pressure and mixed institutional signals shape the near-term outlook.

Bitcoin has dropped 2.9% over the past 24 hours to $62.8K, slipping back beneath its 50 day moving average as external market pressure weighs on crypto sentiment. Technical traders are now watching support near $61K, $59K and $56K while broader recovery signals remain unconfirmed.

Strategy has not bought bitcoin since June 22 and has instead moved to reinforce its liquidity position. The company sold 3,588 BTC, reduced its holdings to 843,775 BTC and lifted its U.S. dollar reserve to about $3 billion.