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Why the $60K-$62K Zone Is Make or Break

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Why the $60K-$62K Zone Is Make or Break

Bitcoin has entered a highly sensitive phase after an aggressive downside continuation. The recent sell-off has pushed it into a historically reactive demand region of $60K, while broader risk sentiment remains fragile. The market is approaching a juncture where technical structure, higher-timeframe demand, and on-chain liquidity dynamics converge, making the coming sessions critical for short- to mid-term direction.

Bitcoin Price Analysis: The Daily Chart

On the daily timeframe, Bitcoin remains structurally bearish, as the price has been printing major lower highs and has reached the channel’s lower boundary. The recent sell-off also resulted in a clear breach of the prior major daily low around $75K, confirming a breakdown in market structure and triggering forced liquidation flows.

However, once the asset reached the $60K–$62K demand zone, selling pressure decelerated sharply. This area has historically acted as a high-interest accumulation region, and the latest reaction reinforces its relevance. Since tapping this zone, Bitcoin has managed to recover toward the $69K–$70K region, but the rebound has lacked momentum and follow-through.

The daily chart now reflects balance rather than trend. Sellers are no longer pressing prices lower aggressively, yet buyers are also unable to reclaim the former support at $75K–$77K, which has now transitioned into a clear supply zone. As long as Bitcoin remains capped below that area, the broader daily bias stays cautious, with consolidation favored over continuation.

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BTC/USDT 4-Hour Chart

Zooming into the 4-hour timeframe, it is evident that the price has rebounded from the $60K threshold, and is now oscillating around $69K–$70K. The character of price action has shifted from impulsive candles to overlapping ranges, signaling exhaustion on the sell side.

The channel’s mid trendline is considered the main supply range near the $73K area, while the internal resistance around the $70K consistently rejects upside attempts. On the downside, demand remains clearly defined between $60K and $62K, where buyers previously stepped in with conviction.

This creates a compressed environment where Bitcoin is effectively boxed between a rising demand floor and a descending resistance ceiling. Until price either loses the $60K–$62K support or reclaims $75K with strength, the most probable outcome remains range-bound price action rather than a directional move.

Sentiment Analysis

Bitcoin has now reached the realized price of the 18-month to 2-year holder cohort, placing this group in a breakeven state. This level, located around the $60K range, is particularly important because it often acts as a behavioral inflection point, where holders are more likely to either defend their cost basis or exit positions if confidence weakens.

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From an on-chain perspective, this realized price currently functions as a key support zone. If buying pressure absorbs supply at this level, the market is likely to stabilize and transition into a consolidation phase. However, failure to hold this area could trigger additional sell pressure as this cohort moves into a loss.

On the upside, the realized price of the 12-month to 18-month cohort around $85K-$90K now represents a clear resistance, as these holders are underwater and may sell into any relief rally. Overall, Bitcoin is trading at a critical equilibrium zone where consolidation is favored unless a decisive break occurs in either direction.

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Crypto World

Square Rolls Out Auto-Enabled Bitcoin Payments for US Sellers

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Coinbase, Kraken, Square, Lending, Jack Dorsey

Square, the payments platform of Block, has begun rolling out Bitcoin payments at its point-of-sale terminals for eligible US sellers, with the automatic feature going live today as part of a phased rollout over the coming month.

The announcement was shared Monday in a post on X by Miles Suter, Bitcoin product lead at Block, and reposted by CEO and longtime Bitcoiner Jack Dorsey.

Suter said the feature is designed to make it easier for “millions of businesses” to accept Bitcoin, adding that eligible US sellers will have payments automatically enabled and will receive US dollars by default when customers pay in Bitcoin (BTC). Merchants will also have the option to automatically “stack” Bitcoin from daily sales.

He described the move as a step toward using “Bitcoin as everyday money.” Bitcoin payment acceptance is expected to be available to all Square merchants by Nov. 10.

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Coinbase, Kraken, Square, Lending, Jack Dorsey
Source: Miles Suter

In a separate post, Square said transactions will convert instantly to cash at checkout, require no additional setup, and offer near-instant settlement. The company added that merchants do not need to hold Bitcoin and that the feature will carry zero processing fees through 2026.

According to Square’s website, the feature is currently available to US sellers that meet verification requirements, excluding businesses based in New York.

The rollout, which could lower barriers to Bitcoin payments by removing volatility and custody risk for millions of merchants, was first outlined by Block in May.

According to BitcoinTreasuries.net data, Block ranks as the 14th-largest publicly traded holder of Bitcoin, with 8,883 BTC on its balance sheet at an average cost of $32,939 per coin.

Source: BitcoinTreasuries.NET

Related: Strategy pushes pause button on Bitcoin purchases, stock sales

Bitcoin-backed lending grows across crypto and traditional finance

Beyond payments and its role as a store of value, Bitcoin is increasingly being used in lending and broader financial infrastructure.

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In January, Nexo launched a zero-interest lending product allowing Bitcoin and Ether (ETH) holders to borrow against their assets through fixed-term loans with predefined repayment conditions.

The offering builds on a structured model previously limited to its private and OTC channels, which facilitated more than $140 million in borrowing in 2025, according to the company.

The same month, Coinbase reintroduced Bitcoin-backed loans in the United States, enabling users to borrow up to $100,000 in USDC against BTC held on the platform, and in February, Kraken followed with fixed-rate crypto loans for Pro users, offering borrowing against digital assets at rates of 10%–25% APR for terms of up to two years.

https://www.youtube.com/watch?v=KlFRKMMpdmk

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Traditional finance is also beginning to incorporate Bitcoin and crypto-backed credit. US mortgage lender Rate recently launched a program allowing borrowers to use verified cryptocurrency holdings to meet mortgage underwriting requirements without liquidating their assets.

Last week, Coinbase and Better Home & Finance introduced a structure that lets borrowers pledge crypto as collateral for loans used to fund down payments on Fannie Mae–compliant mortgages.

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