Analyst: Bitcoin is at a critical technical level, if it falls below $60000 or $40000

According to CNBC, Miller Tabak strategist Matt Maley and 22V Research technology strategist John Roque believe that Bitcoin is at a key technical indicator level. Matt Maley stated that if Bitcoin falls from its current level of around $60000, it will exacerbate negative investor sentiment. Retail investors have shifted their attention to AI and technology stocks, with recent outflows from Bitcoin ETFs. John Roque stated that Bitcoin is retesting at $60000 and if it falls below that level, it will drop to $40000. Matt Maley added that Congress passing the Crypto Structures Act will reduce uncertainty and encourage institutional involvement in the long run. In addition, Bitcoin ETFs have recently experienced the largest monthly outflow of funds since 2024.