Will Bitcoin Fall to $61,000? Macro Chart Highlights Key Support in Bear Market

Key Insights:

• Bitcoin liquidity drops over 30% since October, raising chances of sharper price swings.
• Macro chart since 2017 shows $61K as potential support if price breaks current trend.
• Past cycles saw 75–84% drops; Bitcoin is now down 40% from its recent all-time high.

Bitcoin is currently trading around $77,000, with a 24-hour trading volume of $55B, as Bitcoin also dropped to 4.53% in the last 24 hours. But market experts are watching a possible drop to $61,000 with a key long-term chart showing this could be the next strong support if current levels do not hold.

Macro Chart Suggests $61,000 as Next Key Level

A macro parallel channel dating back to 2017 shows a possible support line around $61,000. This technical pattern has been reliable over several market cycles. Bitcoinsensus stated, “If $BTC really is in a bear market, the next major floor is at $61,000.” 

The chart has shown price action staying within this range for years, which many traders now view as a key level to watch. Bitcoin’s current trading level is near the upper range of the channel. If the price fails to hold, the lower boundary could be tested.

Traders often use these long-term patterns to assess the broader trend, and many are now cautious. While the $61,000 level is not guaranteed, past behavior suggests it could act as a strong area of buying interest.

Liquidity Conditions and Previous Bear Markets Show Larger Drops

Market depth is now over 30% lower than it was in October, according to Coin Bureau. This means that fewer orders are available to absorb large trades. Low liquidity can make price movements sharper and less stable.

A similar liquidity drop occurred after the FTX exchange collapse. At that time, prices moved quickly in both directions. If the current low depth continues, Bitcoin may face increased price swings. Even small sell-offs could push the price lower toward key support levels like $61,000.

Past market cycles have seen steeper declines. Mister Crypto noted, “In the previous cycle, price dumped -75%. The one before that, about -84%.” Bitcoin is now down around 40% from its latest peak. Based on historical trends, there may still be room for further downside.

If the current correction continues, a drop toward the $61,000 level would still be within normal cycle behavior. The coming weeks will likely show whether Bitcoin can hold its current range or drop further toward the next support zone.