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{"id":626049,"date":"2025-06-24T03:21:59","date_gmt":"2025-06-24T03:21:59","guid":{"rendered":"https:\/\/wncen.com\/?p=626049"},"modified":"2025-06-24T03:21:59","modified_gmt":"2025-06-24T03:21:59","slug":"bitcoin-price-plunge-62700","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-plunge-62700\/","title":{"rendered":"Bitcoin Price Takes a Plunge: Analyzing the Sudden Drop"},"content":{"rendered":"

Bitcoin price started another decline after it struggled near $64,550. BTC declined below the $63,500 support and might continue to move down.<\/em><\/p>\n

\n
Bitcoin started a fresh decline from the $64,550 resistance level.<\/li>\n
The price is trading below $63,500 and the 100 hourly Simple moving average.<\/li>\n
There is a connecting bearish trend line forming with resistance at $63,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could extend losses if there is a clear move below the $62,700 and $62,500 support levels.<\/li>\n<\/ul>\n
Bitcoin Price Dips Further<\/h2>\n
Bitcoin price failed to recover above the $65,000 level<\/a>. BTC struggled near $64,550 and started another decline. There was a steady decline below the $64,000 and $63,500 levels.<\/p>\n
The price even declined below the $63,000 level. A low was formed at $62,700 and the price is now consolidating losses. There is also a connecting bearish trend line forming with resistance at $63,600 on the hourly chart of the BTC\/USD pair.<\/p>\n
Bitcoin is now trading below $63,500 and the 100 hourly Simple moving average<\/a>. If there is a recovery wave, the price could face resistance near the $63,550 level and the 23.6% Fib retracement level of the downward move from the $66,444 swing high to the $62,700 low.<\/p>\n
The first major resistance could be $64,000. The next key resistance could be $64,500 or the 50% Fib retracement level of the downward move from the $66,444 swing high to the $62,700 low.<\/p>\n
$\"Bitcoin$ <\/a>
Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
A clear move above the $64,500 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $65,500 resistance. Any more gains might send BTC toward the $66,200 resistance in the near term.<\/p>\n
More Downsides In BTC?<\/h2>\n
If Bitcoin fails to climb above the $63,550 resistance zone, it could continue to move down. Immediate support on the downside is near the $62,700 level.<\/p>\n
The first major support is $62,200. The next support is now forming near $62,000. Any more losses might send the price toward the $61,200 support zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $62,700, followed by $62,200.<\/p>\n
Major Resistance Levels \u2013 $63,550, and $64,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started another decline after it struggled near $64,550. BTC declined below the $63,500 support and might continue to move down. Bitcoin started a fresh decline from the $64,550 resistance level. The price is trading below $63,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $63,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend losses if there is a clear move below the $62,700 and $62,500 support levels. Bitcoin Price Dips Further Bitcoin price failed to recover above the $65,000 level. BTC struggled near $64,550 and started another decline. There was a steady decline below the $64,000 and $63,500 levels. The price even declined below the $63,000 level. A low was formed at $62,700 and the price is now consolidating losses. There is also a connecting bearish trend line forming with resistance at $63,600 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $63,500 and the 100 hourly Simple moving average. If there is a recovery wave, the price could face resistance near the $63,550 level and the 23.6% Fib retracement level of the downward move from the $66,444 swing high to the $62,700 low. The first major resistance could be $64,000. The next key resistance could be $64,500 or the 50% Fib retracement level of the downward move from the $66,444 swing high to the $62,700 low. A clear move above the $64,500 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $65,500 resistance. Any more gains might send BTC toward the $66,200 resistance in the near term. More Downsides In BTC? If Bitcoin fails to climb above the $63,550 resistance zone, it could continue to move down. Immediate support on the downside is near the $62,700 level. The first major support is $62,200. The next support is now forming near $62,000. Any more losses might send the price toward the $61,200 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $62,700, followed by $62,200. Major Resistance Levels \u2013 $63,550, and $64,500.<\/p>\n","protected":false},"author":67,"featured_media":626051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,679,1144,78790,76835],"class_list":["post-626049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Takes a Plunge: Analyzing the Sudden Drop<\/title>\n<meta name=\"description\" content=\"Bitcoin price started another decline after it struggled near $64,550. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Takes a Plunge: Analyzing the Sudden Drop","url":"http:\/\/wncen.com\/analysis\/btc\/bitcoin-price-plunge-62700\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/analysis\/btc\/bitcoin-price-plunge-62700\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin-Plunge.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin-Plunge.jpeg?fit=1792%2C1024"},"articleSection":"BTC","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2025-06-24T03:21:59Z","datePublished":"2025-06-24T03:21:59Z","dateModified":"2025-06-24T03:21:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Takes a Plunge: Analyzing the Sudden Drop\",\"url\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/btc\\\/bitcoin-price-plunge-62700\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/btc\\\/bitcoin-price-plunge-62700\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin-Plunge.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin-Plunge.jpeg?fit=1792%2C1024\"},\"articleSection\":\"BTC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2025-06-24T03:21:59Z\",\"datePublished\":\"2025-06-24T03:21:59Z\",\"dateModified\":\"2025-06-24T03:21:59Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin-Plunge.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/626049"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=626049"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/626049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/626051"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=626049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=626049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=626049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}