Bitcoin continues its nearly free fall, along with the entire cryptocurrency market. This is no longer just a decline; it is total panic and mass exodus from cryptocurrency assets of any kind. Bitcoin is being sold not only by individual traders or large investors. Even major investment funds like BlackRock are offloading Bitcoin. Everything is being sold. Bitcoin mining has become unprofitable. It is estimated that mining one coin at current prices and realities requires around $90,000. Clearly, the current price of Bitcoin, around $60,000, does not even cover the mining costs. So, we are experiencing a "crypto winter" that many did not believe would happen. Let us remind you that just a couple of days ago, Cathy Wood, one of the most well-known investors in the world, stated that Bitcoin would be worth $1.5 million per coin. Many globally renowned experts have repeatedly urged buying Bitcoin and even selling gold to purchase Bitcoin. You can see now the consequences of such forecasts.

Once again, we want to emphasize that investing and trading are different things. If you can buy Bitcoin now and hold it for 10 years, then you will probably be in profit. However, even BlackRock and major crypto exchanges are currently selling their reserves of "digital gold," and they have enough liquidity to wait years for the desired price. If you are a trader, calls to buy BTC "with all your money" should be avoided. They hold no value. Bitcoin may someday be worth $200,000 or $1 million, but right now, it has lost 50% of its value.

What can we expect next from "digital gold"? Clearly not the dynamics of regular gold. In 2026, investors remembered that gold is gold; there won't be more of it on Earth, while Bitcoin is a high-risk, highly volatile, and absolutely unstable investment that has no intrinsic value. As a means of payment, Bitcoin is still rarely used, as few people are interested in a payment tool that can rise or fall by 10% in a single day. You paid for some goods, and the amount the seller received is 5% smaller the next day. A week later, it is down by 10%. A few months later, it could shrink by 50%.

Overall Picture for BTC/USD on the 1D Chart

On the daily timeframe, Bitcoin continues to form a downward trend. The trend is identified as descending, and the CHOCH line is currently at $97,900. Only above this level can we consider the downward trend to be completed. "In 2026, Bitcoin could fall to $60,000." We said this earlier, and now Bitcoin is only a short distance away from the $60,000 level. Just yesterday, BTC lost $10,000 in value. The price received a clear reaction to the "bearish" FVG ($96,900 – $98,000), and a trading signal was formed. Since then, Bitcoin has already lost $30,000. The next target for the decline is the $57,500–61.8% level on the Fibonacci scale. There are currently three POI areas, and new ones may form in the near future. But what is the point of them if Bitcoin is not correcting?

Overall Picture for BTC/USD on the 4H Chart

On the 4-hour timeframe, the price continues to form a downward structure. The CHOCH line is at $90,560; only above this line can we talk about a trend reversal to the upside. However, at this point, there are no signs that Bitcoin might end its decline in the near future. Rather, the opposite is true—the price is falling at lightning speed and is showing no signs of even minimal corrections. In the course of the latest downward swing, four "bearish" FVGs have already formed. At the moment, Bitcoin has not been able to correct to any of them.

Trading Recommendations for BTC/USD:

Bitcoin continues to establish a full-fledged downward trend. We continue to expect a decline with a new target of $57,500 (the 61.8% level on the Fibonacci scale from a three-year upward trend), and there are no signs of a trend reversal or any correction. If such signs do appear, one can consider closing short positions. There's a whole bunch of bearish FVGs from the daily and 4-hour timeframes that can be highlighted for selling, but these are of no use—there are no corrections in the price. In the future, they can be considered for opening new shorts.

Explanations for the Illustrations:

• CHOCH – Change of trend structure.
• Liquidity – Liquidity, Stop Loss orders of traders that market makers use to establish their positions.
• FVG – Fair Value Gap. The price passes through these areas very quickly, indicating a complete absence of one side in the market. Subsequently, the price tends to return and react from such areas.
• IFVG – Inverted Fair Value Gap. After a return to such an area, the price does not react to it; instead, it breaks through impulsively and then tests it from the other side.
• OB – Order Block. The candle on which the market maker opened a position to gather liquidity for forming their position in the opposite direction.