Bitcoin price has fallen to a make-or-break support zone near $59,000 after losing a key Fibonacci level that traders viewed as the last major defense before a deeper selloff.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to data from crypto.news, Bitcoin (BTC<\/a>) price dropped to around $59,175 on June 24, extending a pullback that has erased nearly all of the recovery from this month\u2019s low. The decline came after price failed to hold above the 78.6% Fibonacci retracement level near $64,270, a zone many traders consider the final support before a full retracement of a prior rally.<\/p>\n The move has returned Bitcoin to the 100% Fibonacci level around $59,193, which also coincides with the June low. A break below that area would place the market at its weakest level since the rally that followed the April correction.<\/p>\n <\/p>\n The daily chart shows Bitcoin retracing almost the entire advance from its June low to the May peak near $82,900. During the decline, BTC price lost support at both the 61.8% Fibonacci retracement level around $68,250 and the 78.6% retracement near $64,270 before sliding back toward the origin of the move.<\/p>\n At the same time, Bitcoin remains trapped beneath a descending trendline that has capped every recovery attempt since the May high. Each rebound has produced a lower high, preserving the bearish structure that has defined the market for the past several weeks.<\/p>\n Moving averages also continue to favor sellers. The chart shows Bitcoin trading below its 50-day moving average near $71,100 and its 100-day moving average around $72,000, with the 50-day MA remaining below the 100-day MA in a bearish crossover that signals weakening medium-term momentum.<\/p>\n Previous attempts to reclaim those levels failed, allowing downward momentum to accelerate as support zones gave way.<\/p>\n Attention has now shifted to the $59,000-$60,000 region, which has emerged as the most important support area on the daily chart. Buyers successfully defended this zone earlier in June, producing a recovery that eventually carried Bitcoin above $70,000 before momentum faded.<\/p>\n Market indicators suggest sellers still hold the advantage. The Aroon indicator shows Aroon Down at 100%, while Aroon Up remains near 36%, a configuration that typically signals persistent downside pressure and continued dominance by recent lows.<\/p>\n Daan Crypto Trades described the 78.6% retracement as the last major support level before the $60,000 area comes under direct pressure. The analyst added that failure to hold this region could open the door to a break of the June low and force traders to look for support at lower levels.<\/p>\n\n
Bitcoin price has erased most of its May rebound<\/h2>\n
![\"Bitcoin](\"https:\/\/media.crypto.news\/2026\/06\/BTCUSDT_2026-06-25_00-32-05.webp\")
$60K has become the final line for bulls<\/h2>\n