Bitcoin’s quiet $59,000-$60,000 range is starting to look dangerous
CoinDesk·
60-second summary
Bitcoin is currently trading in a tight $59,000 to $60,000 range, echoing a similar calm stretch from 2024. However, this time the pattern is forming below support in a falling market, increasing the risk of a break that could send the token plummeting toward $40,000, exacerbating the market downturn and potentially weakening investor confidence further.
The token has traded in a tight band near $59,000 to $60,000 all week. The pattern echoes a calm stretch from 2024, but this one is forming below support in a falling market, and a break could open the way toward $40,000.