Why did Bitcoin drop to around $60,000 today?

A technical breakdown through nearby support triggered forced selling and rapid liquidations, pushing price to a 60,001 low before buyers stepped in. Wide spreads during offshore hours added to slippage. Without a confirmed close back above 68,500, rallies may remain corrective within a wider, volatile range.

What BTC support levels matter most now?

We’re watching 62,500–61,200 as the main demand zone. A decisive close below 61,200 risks a return to 60,000 and could trigger more stops. On strength, a hold above 68,500 would suggest bullish intent, with the 70,000 round number as the next reference level for momentum buyers.

How should Australians track btc price usd effectively?

Focus on daily closes rather than intraday swings, and watch the 62,500–61,200 and 67,200–68,500 zones. Consider alerts around these levels and review price after US market hours. If you convert to AUD, track the AUD/USD rate too, as currency moves can change local returns even when BTC is flat in USD.

Is this a good time to buy, sell, or hold BTC?

For traders, a plan around defined levels helps. Potential buys near support need tight risk below 61,200, while profits can be taken near 67,200–68,500. Long-term investors might stick to dollar-cost averaging. Our current grade is C+ (Hold), but decisions should match your timeframe, risk tolerance, and cash needs.

Global Market Insights

BTCUSD Today: February 7 — $60K Flush, Shockwaves Test Supports

ByHuzaifa Zahoor February 6, 2026February 6, 2026

The btc price usd slid toward 60,001 before rebounding near 68,080 today, shaking crypto markets and Aussie portfolios. On our screen, BTCUSD trades below yesterday’s 72,998 close, with a session high at 68,624. Traders are focused on 62,500–61,200 as key support and 67,200–68,500 as resistance. We break down the move, review technical signals, and outline practical steps for Australian investors to handle crypto volatility while keeping risk tight and decisions data driven.