Eseandre Mordi
Bitcoin's latest drop has brought it dangerously close to a level that could decide its next major move. After sliding from the $72,800 region, BTC/USDT is now sitting around $63,651 on the 2-day chart — right on top of a support band that bulls can't afford to lose. As one analyst put it bluntly, this is a must-hold zone. If it breaks, a new local low is very much on the table.
$75K Resistance Rejected, Demand Zone Near $60K Now in Play
The rejection was clean and decisive. Bitcoin ran into heavy supply between $75,000 and $76,500, stalled out, and then accelerated lower into the green demand region that starts around $60,400.
That zone has held before, and it's holding the market's attention again now. Earlier analysis showed price holding near the $60K support area while resistance looms near $78K — a dynamic that has consistently defined the range structure over recent weeks.
$67K-$68K Pivot Levels Shaped the Path to Current Support
Before arriving at current levels, Bitcoin spent time consolidating around a key pivot near $67,820. That range drew a lot of attention from traders positioning for a breakout, with coverage tracking Bitcoin consolidating above a key pivot near $67,820 before testing higher resistance. When that attempt failed, sellers took control and pushed price into the lower end of the structure.
This is a must-hold zone for BTC — otherwise a new low could form.
Analysts were also focused on support clusters around the $68K region shaping the next directional move — a level that has since been lost, which is part of why the current support test carries so much weight.
For now, the mid-$60,000 band is what stands between Bitcoin and a deeper correction toward $55,000 or lower. A strong hold here could set the stage for stabilization and a potential range recovery. A breakdown, on the other hand, would shift the technical picture meaningfully to the downside. The reaction at this level over the coming sessions is the key thing to watch.
Eseandre Mordi
