Bitcoin is trading around $62,500-62,700 and remains under pressure after falling nearly 13% from its June highs. The latest news points to weaker risk appetite after a selloff in AI and technology stocks, as well as investor caution amid uncertainty around Fed policy and weak institutional demand.
Fundamental drivers
Support from ETFs and long-term holders remains unstable: on some days, the market sees signs of accumulation, but this has not yet been enough for a confident recovery. Geopolitical uncertainty and weak demand for risk assets remain additional pressure factors, preventing Bitcoin from holding above nearby resistance levels.
Technical picture
On the 4-hour chart, BTC/USD remains below the main moving averages after a sharp drop from the $80,000-82,000 area toward $59,000-60,000. The price is now consolidating near $62,500, while the nearest support is around $61,000-60,000. To improve the outlook, buyers need to push the price back above $64,000-65,000; the next important resistance level is around $67,000.
Conclusion
The base-case scenario remains cautiously bearish as long as Bitcoin trades below $64,000-65,000 and shows no sustained buyer inflows. Rebounds from $60,000 still look more technical than trend-reversing; a break below $60,000 would increase the risk of a move toward $59,000 and lower, while a sustained move above $67,000 would be the first signal of renewed momentum, as noted in the article Bitcoin holds near $62,000 as weak risk appetite weighs.
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