Bitcoin slips below $62K as long-term holders face record losses and analysts warn of more downside

Bitcoin fell under $62,000 this week, sliding to a low near $61,255 as sustained selling pressure pushed the price below the 100-hour moving average; resistance was noted near $63,200 with support seen at $61,200 and $60,000 ^{[1] [2]}.

On-chain metrics show long-term Bitcoin holders are carrying more underwater supply than at the lowest points of the 2022 bear market, a spike in loss supply highlighted by Glassnode researcher CryptoVizArt ^[3].

Market commentators flagged further downside risk: an analyst who had forecast the recent drop outlined downside scenarios for the ongoing correction, and veteran trader Peter Brandt warned Bitcoin could fall further, identifying October as a notable window for price action ^{[4] [5]}.

In the near term, technical levels around $61,200 and $60,000 will be watched for support while on-chain data and analyst warnings underscore elevated downside risk amid the current sell-off ^{[1] [3] [4] [5]}.