Bitcoin falls 50% from October 2025 peak as $60,000 support comes under pressure

NEW YORK: Bitcoin has fallen by around 50% since reaching an all-time high in October 2025 and is trading near the $60,000 level, with technical indicators pointing to a possible further decline if the cryptocurrency fails to hold that threshold.

Technical analysts view $60,000 as a key psychological level because traders often pause around major round-number prices before deciding whether to buy or sell.

The level also provided support in February, when bitcoin dropped to $60,008.52 before recording a temporary recovery.

Its importance is reinforced by the 200-week moving average, which currently stands at $61,778.

However, repeated failures to sustain a recovery in recent months have increased the possibility of bitcoin falling below $60,000.

A sustained move under that level, such as trading below $60,000 for three consecutive days while recording lower highs and lower lows, could lead traders to target $50,000.

That level is close to bitcoin’s August 2024 low of around $49,445, according to LSEG data, making it another potential support point.

For market sentiment to improve, bitcoin would need to move above its 30-day moving average of $75,685 and its 200-day moving average of $78,840.

Moving averages are used to reduce the effect of short-term price fluctuations and assess the broader direction of an asset.

Bitcoin’s previous recovery attempt ended near the 200-day moving average in May.

The cryptocurrency’s decline has coincided with stronger investor interest in artificial intelligence stocks and anticipated listings, including SpaceX, which have drawn capital away from digital assets.