Bitcoin is testing a critical support area as investors assess whether the $60,000 level can hold. A strategist said a break lower could bring $55,000

Bitcoin has dropped 17% in four days, sparking $4.5 billion in liquidations, as analysts warn of a potential move below $60,000.

Bitcoin trades at $63K with RSI at 17, all 14 moving averages signaling sell, and $61.3K as the critical support line.