BTC/USD | BTC Drops Below $60K! What's Next ? (READ THE CAPTION)Bitcoin / US DollarCOINBASE:BTCUSDArmanShabanTradingBy analyzing the #Bitcoin chart on the Weekly timeframe, we can see that the cryptocurrency market has entered one of its deepest corrective phases in recent years. Bitcoin, as the leader of the market, has now declined more than 50% from its all-time high and today briefly dropped to the $58,000 region. At this stage, the $52,500 – $60,000 area has become one of the most important demand and accumulation zones on the chart. The market's reaction around this region will likely determine the next major directional move. From a macro perspective, rising expectations for higher interest rates, combined with the U.S. Dollar Index climbing to its highest level in nearly 13 months, continue to pressure risk assets across global markets, including cryptocurrencies. From a structural perspective, the nearest demand zones are located around $58,000 – $60,000, followed by the broader institutional demand zone between $52,500 – $56,000. On the upside, the nearest supply zones are located around $63,000 – $66,000, followed by a stronger resistance cluster between $70,000 – $74,000. In my view, long-term investors may start looking at these demand zones as attractive accumulation areas. However, I believe the current environment is much more favorable for day traders and scalpers who can take advantage of short-term volatility. Medium-term swing traders, on the other hand, could face a slow and frustrating market for a while. If you expect to need your capital in the short or medium term, I personally wouldn't recommend rushing into new investments. For now, all eyes remain on the $52,500 – $60,000 demand zone. The reaction from this area could shape Bitcoin's next major move. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban