Bitcoin breaks $62,500 support, risks slide toward $59,000 near term

Bitcoin loses $64k, slips below $62.5k. Bears eye $61.2k support after trendline break.

Bitcoin failed at $64.5k and dropped under $63.5k, turning bearish. Price sits below $62.5k and the 100‑hour SMA, after a break of the $62.5k trendline on BTC/USD. Source: NewsBTC downside correction report, NewsBTC 100‑hour SMA context.

The move cut through the 50% Fib of the $59,070 to $64,613 leg. RSI is below 50. MACD accelerates in the red. Source: NewsBTC analysis.

What flips it up. A close above $62,200 opens $64,000, then $64,500. Stretch target sits at $66,000. Main hurdle at $66,500. Source: NewsBTC levels.

What breaks it down. Below $62,500 and $62,200 keeps pressure. First support at $61,200. Then $60,950 and $60,200. Deeper bids at $59,000. Key floor at $58,500. Source: NewsBTC levels.

Key levels to watch:

• Resistance: $62,000, $62,200, $64,000, $64,500, $66,000, $66,500
• Support: $61,200, $60,950, $60,200, $59,000, $58,500