Today, July 4, 2024, BTC's price has broken below key technical levels, including the 200-day moving average and the $60,000 support level, potentially signaling a shift in market sentiment and increased risk of further declines.

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As the daily chart demonstrates, Bitcoin’s price has failed to hold above the significant $60K support level and has also broken below the 200-day moving average, located around $58K.

However, with increased pressure amid a broader market downturn could mean a fresh demand zone will be lower. Per analysts at IntoTheBlock, breaching $60k could see bears targeting lower support levels.