Galaxy Analyst Sees Bitcoin Slipping Below $60K on Weakness Signals

A Galaxy analyst says Bitcoin could fall below $60K due to structural weakness in its price, with on-chain signals and the 200-week moving average pointing to a test of around $58K (and roughly $56K realized price). Absent near-term catalysts, BTC may drift toward the bottom of the supply gap near $70K before probing the $58K–$56K zone; historical drawdowns have often extended losses, though long-term holders could view a potential bottom in the current range as a buying point.