Bitcoin slips below bear-market line: A critical demand test

Bitcoin's drop below the 200-week moving average has turned a familiar cycle marker into a live demand test. On June 28, BTC traded at $60,238, down 6.1% over the past week and 18% over the past month, after three heavy ETF redemption sessions totaling about $1.61 billion in net outflows. The 200-week weighted average at $62,383 now separates two outcomes: a quick recovery would suggest forced selling was temporary, while prolonged weakness could turn the level into resistance. The close proximity to the line means volatility could challenge it quickly, but the unresolved break keeps pressure on the market.