Bitcoin falls to $64,000 as weekly losses exceed 13%.

Bitcoin fell below $64,000 on Thursday after Wall Street opened, continuing a difficult week for the largest cryptocurrency. The bulls have now lost around 13.5% over the past seven days and the mood among traders remains cautious.

Data from TradingView shows that BTC price strength has shown little recovery after falling to its lowest level since early February. At the low, Bitcoin retraced its 200-week simple moving average trendline, a pattern that some analysts say reflects bear market behavior in 2022.

Sellers are still controlling near $60,000.

Trader Daan Crypto Trades summed up the current situation for He added that the focus is now on the $60,000 level and whether it can be sustained as support.

“The key area here is the low $60Ks, including the weekly 200MA,” he wrote, referring to the 200-week moving average.

Short-term commentator Exitpump also noted that sellers remain dominant. “Any bounces will hit the tracking request wall on the Binance Penalty Orderbook,” they told their followers. “The moment buyers start pushing, more supply appears as overhead and prices remain fixed.”

$2 trillion has disappeared from the cryptocurrency market

Trading resource Kobeissi Letter pointed out that since October 2025, the total market capitalization of the cryptocurrency market has decreased by more than $2 trillion. This increased anxiety throughout the industry.

Bitcoin is currently facing its worst week of 2026, with losses exceeding 13%, according to data from CoinGlass. Although the decline has been steep, some analysts still see patterns from past cycles.

Echoes of the 2022 bear market

Trader and analyst Rekt Capital highlighted the similarities with Bitcoin’s behavior in June 2022. “On June 13, 2022, Bitcoin reached the 200-week SMA during a bear market correction,” he noted. The current chart shows a similar retest of that trendline, which currently sits at around $61,626. For Rekt Capital, this could be a sign that the four-year cycle is still going as well as it has in the past.

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