$BTC/USD(BTCUSD.HAS)

🏆 [Weekly] Bitcoin vs. The Bears: Is the Capitulation Nearing an End?

Bitcoin continues to navigate choppy waters as intense macroeconomic and crypto-specific pressures mount.

It is currently trading around $60,348, BTC is precariously clinging to key psychological support while investors battle hot inflation data and heavy derivative market settlement. 

🔷Technical Snapshots

🟢4-Hour Chart :Bitcoin demonstrates short-term compression right at immediate overhead resistance. The middle SMA stands at $60,571, keeping the current price of $60,378 capped.

The lower Bollinger Band sits at $58,410, which matches recent overnight retests, while a weak 39.08 RSI reflects persistent bearish control.

🟢Daily Chart:The macro view highlights a deep structural correction from previous highs. BTC is pinned well below its daily middle SMA of $63,065, turning previous supports into stiff resistance.

However, the daily RSI is heavily depressed at an oversold 33.61, signaling that short-term selling capitulation could soon be reaching exhaustion point.

🔷Fundamentals Snapshots

🟢Macro Headwinds & Outflows::

Crypto sentiment is reeling from hot U.S. inflation data and hawkish. Federal Reserve rate anxieties has sparked over $600 million in sudden market liquidations.

This risk-off shift has caused massive spot ETF outflows and a general capital rotation toward tech and AI equities. 

🟢Regulatory & Expiry Clashes:

Traders are keeping a close watch on a massive $10.6 billion options expiry where bears clearly hold the upper hand.

Compounding this pressure are rising geopolitical worries and localized anxieties regarding potential delays to the U.S. CLARITY Act. 

🔷The Verdict

The immediate path of least resistance remains tilted to the downside. If bulls fail to defend the $58,410 band, a deeper correction toward major support at $55,000 looks inevitable.

Conversely, any relief rally hinges on cleanly reclaiming and holding the $60,571 level.