Bitcoin has crashed from $126K to $60K in just 120 days.
The drop is driven by derivative markets, synthetic BTC exposure, and institutional position unwinds, not retail panic. Macro factors like risk-off flows, liquidity tightening, and slowing economic data amplify the decline.
Relief rallies may occur, but sustained upside is limited until these pressures stabilize. Key zones: Resistance $70K–$75K, Support $55K–$58K. Price now reacts more to leverage, liquidations, and derivatives, rather than spot demand.
