Bitcoin Needs $63.3K Breakout to Prove the Bottom Is Real

Bitcoin Needs $63.3K Breakout to Prove the Bottom Is Real argues that Bitcoin is attempting to form a floor after being cut roughly in half from its all-time high of $126,080. The article says Bitcoin changed hands near $62,800 on Monday, up about 7.3% over the past week, while remaining far below peak levels. It notes a market cap hovering around $1.26 trillion with about 20.05 million coins circulating, and describes the bounce as driven mainly by softer U.S. jobs data easing expectations of Federal Reserve hikes. Technical commentary in the piece says daily signals are neutral but weekly and monthly readings remain sell-focused, and prior bounces have been sold. A key level is $60,000, where the market is testing support amid exchange inflows of around 50,000 BTC per day, consistent with potential selling. If $60,000 breaks on a closing basis, the article cites a next magnet near a realized price of roughly $53,000.