Bitcoin slips for a sixth day, breaks key trendline as traders watch for a sharper move
Bitcoin extended its decline to a sixth straight day and briefly fell below $63,000, touching roughly $62,800 for the first time since Aug. 3, while also losing its 200-week moving average near $64,000. Analysts cited in PANews’ market note said the chart damage matters: Ash Crypto warned that the last comparable break of the daily trendline was followed by a decline of about 20%, putting fresh focus on whether the $60,000 area can hold. Benjamin Cowen added that mid-August through mid-October has historically been a weaker seasonal stretch for BTC, with average drawdowns of around 10% to 11% in August and about 8% in September. At the same time, volatility has compressed to an extreme. Bitcoin’s 30-day trading range narrowed to just 5.6%, one of the tightest readings on record, while roughly $1.29 billion in BTC options are approaching expiry with a max pain level at $64,000. The report also pointed to broader cross-asset signals, including U.S. inflation data, ETF flows, crypto-linked equities, and Asia market moves, as traders wait for a directional break.








