BTC/USD: Bearish Pressure Returns Below $60,000Bitcoin / US DollarCOINBASE:BTCUSDProfessorSingapore 🎯 Trade setup: Direction: Short from pullback 🔻 Entry: 59,800–60,300 🛑 Stop Loss: 61,200 🎯 Take Profit 1: 58,170 📰 News: Bitcoin remains under pressure after another failed attempt to hold above the $60,000 level. Market sentiment is still weak as risk assets stay fragile and BTC continues to trade below key moving averages. 📊 Record stress: The drop below $60,000 has pushed unrealized losses to a historical extreme. The total amount of BTC held at a loss reached 10.83 million BTC, a new all-time record above the 2019, 2020 and 2022 peaks. Long-term holders now hold around 5.58 million BTC in loss. This shows that the market is in a prolonged stress phase. LTH holders are not capitulating yet, but the longer BTC stays below their cost basis, the higher the risk that even strong holders may start realizing losses. In February, the amount of BTC in loss was around 9.8 million. By early June, it had already reached 10.78 million. The $60,000 zone has been tested several times, each time expanding unrealized losses. This means the process of clearing excess supply is taking longer than expected. 📊 Analysis: On the updated 1H chart, BTC/USD is trading near $59,200 after rejecting the $60,000–$60,500 area. The price remains below EMA 9, EMA 20, SMA 50 and SMA 200, confirming that sellers are still in control. RSI is around 44, showing weak momentum, while MACD is turning lower again after a failed recovery attempt. This suggests that the latest bounce may have been only a correction inside the broader bearish structure. The key support remains $58,170. If this level breaks, BTC may accelerate lower toward $57,000 and $56,000. Scenario: 📉 As long as BTC stays below $60,000–$61,200, sellers remain in control. A rejection from this zone could send the price back toward $58,170. A confirmed breakdown below $58,170 would strengthen the bearish scenario and open the way toward $57,000 and $56,000. 📈 A bullish recovery would require BTC to reclaim $61,200 first. Stronger confirmation would come only above $63,000. Until then, any bounce looks like a correction inside the downtrend. ⚠️ Invalidation: The bearish setup is invalidated if BTC holds above $61,200. ⚠️ Not financial advice.