Bitcoin falls toward US$ 62,000 amid rising global risk aversion

Bitcoin is experiencing a decline, trading near US$ 62,000 amid rising global risk aversion. This downward movement is part of a broader trend where investors are moving away from high-risk assets like cryptocurrencies and stocks. Contributing factors include increasing geopolitical risks, firm oil prices, global liquidity uncertainties, and limited reactions to United States macroeconomic data.

Analysts from BTG Pactual report that Bitcoin is showing signs of fragility in both the short and long term. The asset has broken below the 200-week moving average near US$ 64,000, a key long-term technical reference. To alleviate selling pressure, Bitcoin needs to recover the US$ 64,000 region and eventually surpass the 21-week moving average near US$ 68,700. A critical support level remains at US$ 59,000.

The broader cryptocurrency market is also seeing losses. Ethereum is trading around US$ 1,874, while other major assets like BNB, XRP, and Solana have also recorded declines.