Bitcoin is currently facing a critical moment as it struggles to maintain the $60,000 price level, encountering a key resistance at $60,500 with a significant sell order of 1,000 BTC.
Technical indicators suggest there is potential for a short squeeze, offering hope for bullish investors.
Concerns are also rising about the movements of Mt. Gox tokens, particularly regarding their distribution.
The market is closely watching cues from the Federal Reserve on interest rate changes, which are anticipated to have a significant impact on Bitcoin’s price.
Overall, the volatility continues as the market awaits further developments.
![Bitcoin [BTC] Eyes Critical $61,509 Resistance for Potential Breakout Amid Recent Recovery](https://loutre.blockchair.io/w4/storage/news/ctag.png){kind=small}