Crypto
Home›Crypto›Market Structure›Bitcoin stuck below 200-week moving average after fres…
Bitcoin stuck below 200-week moving average after fresh sell-off
The decline brought Bitcoin to the low-$63,000 area, after it slipped from about $65,000, and losses spread across several major altcoins.
The crypto market slid into Monday and early Tuesday, with trading broadly tracking US equities as total market value fell from a reported $2.23 trillion peak to $2.16 trillion before slipping toward $2.18 trillion in the following period, according to Action Forex. The move marked another round of testing the 50-day moving average, which sellers have been probing over the past couple of weeks.
Among major coins, Action Forex said losses ranged from about -1.4% in Bitcoin Cash to about -8.8% in Near, while Basic Attention Token fell roughly -8%. Bitcoin closed higher on Monday despite notable afternoon selling pressure, but a sell-off ahead of Asian trading pushed the price down from roughly $65,000 to $63,000 before a modest rebound to about $63,400.
Action Forex said Bitcoin is failing to break above the 200-week moving average, a level it had traded above for the prior three weeks. The outlet attributed current stabilization to sellers losing momentum rather than a return of buyers, noting that aggregate spot and futures demand has not been enough to drive a reversal.
Elsewhere in the market, Action Forex reported BitMart announced a phased closure ending with a full cessation of operations on 31 January 2027. It also said BitMine bought an additional 9,946 ETH last week, lifting its total Ethereum reserves to 5.79 million ETH, which the outlet said would be above 4.8% of total ETH supply.
Latest closeBitcoin $63,394.96 ▼0.5%|Ethereum $1,876.26 ▼0.8%