Bitcoin Traders Warn the $60,000 Mark Is a Liquidation Trigger

As Bitcoin struggles to climb out of its current funk, several indicators suggest any breach of the $60,000 level would unleash a fresh bout of extreme turbulence.

The biggest cluster of bets in Bitcoin’s options market are contracts that pay off if the price falls below $60,000, according to data from Deribit. Just below that level is the token’s 200-week moving average — currently at just above $58,000 — seen by some technical analysts as a crucial support.