BTC's drop below $60,000 triggered a four-hour rounded top and a daily bear flag breakdown, establishing a dual-pattern technical target at $54,000.

With bitcoin testing its 200 week moving average, on-chain data suggests the $50,000 to $54,000 range could become the next key battleground.

BTC slips 3.6% amid a global market sell-off and record ETF outflows. Experts warn of a hard ceiling ahead of the $10.6B options expiry.