While Bitcoin (BTC) trades at its lowest levels in months, some market watchers have warned that the leading crypto may be preparing for another major drop as it retests a critical technical area that has historically marked a turning point.<\/p>\n
After falling 15% over the past four days, Bitcoin is attempting to reclaim the $64,000 level as support. The flagship crypto had been trading<\/a> between $64,000-$82,000 since the early February crash, holding above the upper half of the range for nearly two months.<\/p>\n However, this week\u2019s broader volatility pushed BTC toward the range\u2019s lower boundary for the first time in months, reaching a four-month low of $61,383 on Wednesday night.<\/p>\n Amid this performance, market observer Rekt Capital highlighted<\/a> that the cryptocurrency had tagged the 200-week Simple Moving Average (SMA) for the first time in this bear cycle, which may signal that another correction is coming.<\/p>\n As he explained, deviation below this SMA has \u201chistorically been the key to building out a Bear Market bottom formation.\u201d In June 2022, Bitcoin reached this level during its bear market correction, quickly losing it as support on the weekly timeframe.<\/p>\n Following the initial drop below the 200-week SMA, the leading crypto traded sideways, briefly retesting this level before continuing its descent to its late 2022 bear market bottom.<\/p>\n Now, BTC has reached this key SMA nearly four years later, suggesting a drop<\/a> to new lows if the 2022 playbook repeats. The analyst noted that Bitcoin has been rejected from a critical area and has broken a key level, another similarity to past bear market corrections.<\/p>\n According to the post, BTC was rejected from the base of the Macro Triangle after failing to break past the $82,500 area, revisited the 50-Month EMA during the recent drop, and is currently breaking down from this EMA, a setup that has repeated each cycle before the market bottom.<\/p>\n Rekt Capital pointed<\/a> out that Bitcoin rallies from the $60,000 region have progressively weakened since 2024, signaling deteriorating support. While the price surged 113% from this area during the mid-2024 rally, the February 2026 retest only generated a 38% move.<\/p>\n Now, the cryptocurrency has bounced<\/a> 4% so far, \u201cbut it\u2019s very likely that the rebound from here will be even weaker,\u201d the analyst stated, adding that the \u201c$60,000 area will be completely lost as support over time.\u201d<\/p>\nBTC\u2019s $60,000 Support About To Give In?<\/h2>\n