Analysis
Bitcoin Price Prediction: BTC Loses $60K, Is $45K next?
Bitcoin price prediction turned bearish as BTC lost the $60,000 key level; chart signals more crash ahead, but conditions apply.
1h ago 4,280
BLOCKINSIDERLoadingBitcoin price prediction turned bearish as BTC lost the $60,000 key level; chart signals more crash ahead, but conditions apply.
Bitcoin price prediction as of late June has turned strongly bearish as BTC fell below the key $60,000 support. The asset’s daily chart, ongoing geopolitical tensions, rising exchange reserves, and persistent outflows from US spot Bitcoin exchange traded funds (ETFs) strengthen this bearish outlook.
BTC declined 0.17% over the past 24 hours and was trading at around $59,750 at press time. Over the past week, it is down by over 8%. Despite the downside move, the asset’s trading volume during the same period has jumped 43% to $21.10 billion.
Rising trading volume alongside the price decline suggests market participants are potentially interested in BTC’s downside move.
According to the TradingView daily chart, Bitcoin price prediction appears bearish, as BTC has lost its control over a key support level of $60,000. This level has acted as a key floor since February 6, 2026.
The price has now been consolidating in a tight range between the upper and lower boundaries of $61,000 and $58,370 for the past four consecutive days.
Based on the current price action, there is still hope for an upward price reversal. But it could only be possible if BTC reclaims and remains above the $60,000 level.
On the other hand, if it falls or closes a daily candle below the $58,370 level, it could see a sharp sell-off. In this case, BTC could see a massive price dip of 21% and may reach the $45,000 level.
At press time, the Average Directional Index (ADX) was at 36.71, above the key threshold of 25, indicating BTC was in a strong trend. Additionally, the price below the 200-day Exponential Moving Average (EMA) further reinforces a bearish outlook, disclosing bears remain in control.
In addition to the price action, the other factors that support BTC’s downside momentum, includes escalating geopolitical tension between Iran and the US.
Recently, a report revealed that Iran has attacked ships in the Strait of Hormuz. When this happened in the past, the US heavily struck Iran thereafter.
Other than that, massive outflows in US spot Bitcoin exchange-traded funds (ETFs) have also been recorded, according to analytics platform SoSoValue.
Data shows that since May 15, 2026, US spot Bitcoin ETFs have recorded consecutive weekly outflows for seven straight weeks. Meanwhile, during this period, they have registered a significant $7.73 billion of outflows, which further supports the bearish Bitcoin view.
Notably, the cryptocurrency exchanges' Bitcoin reserves are also rising, indicating a potential incoming selloff by long-term holders. Data from analytics tool CryptoQuant reveals that over the past week, exchanges' Bitcoin reserves have jumped from 2.697 million to 2.708 million BTC, meaning a rise of 11,000 BTC in exchanges' reserves.
When combining this on-chain data, it appears that both institutions and retail investors are losing their interest and confidence in BTC. Additionally, if these activities continue in the coming days, the risk of the asset falling further will increase.
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