Amid multiple market pressures, Bitcoin once again lost the key psychological level of $63,000, dropping briefly to $62,704.7 within 24 hours. This decline is not merely a short-term fluctuation but a resonance of on-chain structural pressure and macro capital retreat. On-chain data shows that miners have been net selling for 46 consecutive days, setting the longest surrender record of the year; meanwhile, Bitcoin ETFs have experienced six consecutive weeks of capital outflows, indicating a simultaneous decline in institutional demand. As the critical support level of $60,000 faces another test, the market stands at an important crossroads between bull and bear.
This article will analyze the deeper reasons behind miner capitulation, changes in institutional capital flows, and, combined with the latest Gate market data, interpret the strategic significance of the $60,000 level and the subsequent market evolution.
Bitcoin drops below $63,000, miner surrender wave sets annual record
2026年2