The post Bitcoin Price Loses $63,000 Support, Experts Eye $60,000 Next appeared on BitcoinEthereumNews.com.

Bitcoin has slipped below the $63,000 level, extending its monthly decline to nearly 30%. The drop reflects more than short-term volatility. It shows deeper structural weakness building across the network and institutional flows. This weakness is appearing even as Bitcoin enters its longest miner capitulation phase, year-on-year. At the same time, institutional demand through ETFs continues to deteriorate. Together, these forces are now pushing Bitcoin toward one of its most important support zones this cycle. Bearish Pattern And Miner Income Collapse Explain Weakness Bitcoin’s price structure has started to break down on the 8-hour chart. A head-and-shoulders pattern has formed, and the neckline of this pattern now sits near the $60,000 zone, making this level the most important short-term support. Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. BTC Structure: TradingView This technical weakness comes as miners continue selling aggressively. Glassnode data shows the miner net position change metric has remained negative continuously from January 9 through February 23. This 46-day stretch marks the longest uninterrupted miner capitulation phase in the year-on-year timeframe. The peak of this stretch was seen on February 6, two days after the BTC price bottomed around $60,400. Miner Capitulation Phase: Glassnode Miner capitulation happens when miners sell more Bitcoin than they accumulate. This usually reflects financial pressure rather than profit-taking. BeInCrypto’s exclusive Dune dashboard helps explain the reason behind this shift. Bitcoin network revenue, which tracks transaction fees earned by miners, has collapsed sharply over the past year. Monthly fees fell from 194 BTC in May 2025 to just 65 BTC by February 2026. This represents a nearly two-thirds drop in miner income. Miner Income Dropping: Dune With earnings falling and BTC correcting, miners have fewer incentives to hold Bitcoin. Instead, they are forced to sell reserves, increasing supply…

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Filed under: News - @ February 24, 2026 7:20 am