Bitcoin Drops to 21-Month Low of $57,737 This Week, Recovers to $61,000

According to Dailian, Bitcoin fell to $57,737 this week—a 21-month low—before recovering to $61,000, with market focus shifting from price bounces to confirmation of a bottom.

The cryptocurrency broke below its 200-week moving average for the first time since 2022, prompting analysts to identify the realized price level of $52,000–$53,000 as the next key support. On-chain data from Glassnode showed a positive signal: long-term Bitcoin holders (holding for at least 155 days) reversed into net accumulation, though the scale remains modest compared to previous bull markets.