Bitcoin Analysts See $60,000 as a Downside Target if $68,000 Support Fails

Martin Lee, market insights lead at DWF Labs, identified the $68,000 area near Bitcoin’s 200-week moving average as a long-term floor and said a weekly break below it could put $60,000 in view.

The analysis comes after Bitcoin’s Nov. 13 drop below $68,000.

Martin Lee, market insights lead at DWF Labs, said the $68,000 area is important because it sits near Bitcoin’s 200-week moving average, a long-term support level. Lee said a weekly break below it would put $60,000 in view. That $60,000 figure is his next downside target, not the value of the moving average.

Lee also said Bitcoin was on track to finish below its 50-week moving average near $75,000, just eight weeks after moving back above it. He compared the setup with November 2025, when BTC fell below its 50-week average near $100,000 before declining toward $60,000 and reaching comparable long-term support.

Lacie Zhang, research lead at Bitget Wallet, sees $68,000 as the first support level, followed by $65,000 and $62,000 if selling continues. She attributed the decline to macroeconomic risk aversion, withdrawals from spot Bitcoin exchange-traded funds, leveraged long-position unwinding and weakness in technology stocks.

October headline consumer prices rose 0.4% month over month, above the 0.3% forecast, while core inflation also exceeded expectations. The hotter-than-expected figures lifted expectations for a Federal Reserve rate hike in December.