BTC tests $60K support amid lack of rebound catalysts: Analysis

As Bitcoin falls to the $62,000 level, the market is focused on whether the $60,000 support level will hold, according to an analysis by CoinDesk. The outlet noted that BTC is approaching the lower end of a trading range it has maintained for the past month, with a lack of institutional fund inflows limiting its price recovery. Institutional investors, who led the rally in the current cycle, are reducing their risk exposure, making a strong rebound unlikely until ETF fund flows reverse. The market views $60,000 as the most important short-term technical and psychological support level, CoinDesk explained.